Royal Bank of Canada Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $405.00

The Goldman Sachs Group (NYSE:GS) had its target price lifted by stock analysts at Royal Bank of Canada from $390.00 to $405.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the investment management company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 0.27% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Evercore ISI raised their price target on The Goldman Sachs Group from $418.00 to $435.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. HSBC raised their target price on The Goldman Sachs Group from $432.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Bank of America raised their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus target price of $434.93.

The Goldman Sachs Group Stock Performance

GS stock opened at $403.91 on Tuesday. The company has a market cap of $131.08 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $419.20. 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’s fifty day moving average price is $395.67 and its 200-day moving average price is $365.35.

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

Insider Activity

In other news, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the transaction, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were 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 approximately $11,602,947.31. The disclosure for this sale can be found here. Insiders sold a total of 35,907 shares of company stock worth $13,950,851 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GS. Capital World Investors grew its position in The Goldman Sachs Group by 6.0% in the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after acquiring an additional 338,181 shares in the last quarter. Morgan Stanley grew its position in The Goldman Sachs Group by 40.0% in the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock worth $2,038,425,000 after acquiring an additional 1,696,350 shares in the last quarter. Fisher Asset Management LLC grew its position in The Goldman Sachs Group by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock worth $2,128,693,000 after acquiring an additional 152,474 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in The Goldman Sachs Group by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock worth $2,004,153,000 after acquiring an additional 27,524 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in The Goldman Sachs Group by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after acquiring an additional 274,989 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

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.