Evercore ISI Increases The Goldman Sachs Group (NYSE:GS) Price Target to $715.00

The Goldman Sachs Group (NYSE:GS) had its price objective hoisted by stock analysts at Evercore ISI from $630.00 to $715.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the investment management company’s stock. Evercore ISI’s price target would indicate a potential downside of 1.39% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Daiwa America lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Daiwa Capital Markets cut shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research report on Friday, April 4th. Morgan Stanley raised their target price on The Goldman Sachs Group from $570.00 to $592.00 and gave the company an “equal weight” rating in a research note on Monday, June 23rd. Wall Street Zen downgraded The Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 14th. Finally, JPMorgan Chase & Co. cut their price target on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $603.73.

The Goldman Sachs Group Stock Up 1.3%

Shares of NYSE:GS opened at $725.05 on Wednesday. The Goldman Sachs Group has a 1 year low of $437.37 and a 1 year high of $726.00. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68. The business’s 50-day moving average is $613.48 and its 200-day moving average is $590.57. The company has a market capitalization of $222.47 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 0.98 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $1.55. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. During the same period in the previous year, the firm earned $11.58 earnings per share. Equities research analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John B. Hess purchased 3,904 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were bought at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the transaction, the director directly owned 3,904 shares of the company’s stock, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its position in The Goldman Sachs Group by 15.4% in the 4th quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company’s stock worth $594,412,000 after purchasing an additional 138,198 shares in the last quarter. Baxter Bros Inc. grew its position in The Goldman Sachs Group by 1.0% in the 4th quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company’s stock worth $8,879,000 after purchasing an additional 151 shares in the last quarter. Erste Asset Management GmbH grew its position in The Goldman Sachs Group by 5.9% in the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company’s stock worth $3,309,000 after purchasing an additional 320 shares in the last quarter. Terra Nova Asset Management LLC bought a new stake in The Goldman Sachs Group in the 1st quarter worth about $1,643,000. Finally, Adams Diversified Equity Fund Inc. boosted its stake in The Goldman Sachs Group by 41.5% in the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock valued at $27,205,000 after acquiring an additional 14,600 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

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.