Citigroup Increases The Goldman Sachs Group (NYSE:GS) Price Target to $425.00

The Goldman Sachs Group (NYSE:GS) had its price target raised by equities researchers at Citigroup from $410.00 to $425.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. Citigroup’s price objective would indicate a potential upside of 5.22% from the company’s previous close.

Several other research firms also recently commented on GS. BMO Capital Markets upped their price objective on The Goldman Sachs Group from $357.00 to $360.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. HSBC increased their target price on The Goldman Sachs Group from $432.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. UBS Group increased their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Oppenheimer increased their target price on The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.93.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $403.91 on Tuesday. The company has a market cap of $131.08 billion, a PE ratio of 15.77, a P/E/G ratio of 1.56 and a beta of 1.43. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76. The stock has a 50-day moving average of $395.67 and a 200-day moving average of $365.35. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $419.20.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The company had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. During the same period in the prior year, the company posted $8.79 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts predict that The Goldman Sachs Group will post 32.76 EPS for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the transaction, the treasurer now directly owns 18,408 shares in the company, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. Insiders have sold a total of 35,907 shares of company stock valued at $13,950,851 over the last 90 days. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GS. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group during the first quarter valued at about $1,903,374,000. Norges Bank bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $1,120,119,000. Morgan Stanley grew its stake in shares of The Goldman Sachs Group by 40.0% during the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after buying an additional 1,696,350 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of The Goldman Sachs Group by 168,772.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after buying an additional 1,243,852 shares during the last quarter. Finally, Congress Wealth Management LLC DE grew its stake in shares of The Goldman Sachs Group by 27,076.5% during the third quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after buying an additional 650,918 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.