Goldman Sachs (NYSE:GS) had its price objective increased by analysts at Morgan Stanley from $297.00 to $302.00 in a research note issued to investors on Thursday, March 15th. The firm currently has an “overweight” rating on the investment management company’s stock. Morgan Stanley’s price objective indicates a potential upside of 20.81% from the stock’s previous close.
Several other equities research analysts have also issued reports on GS. Barclays reaffirmed an “equal weight” rating and set a $289.00 price target (down previously from $308.00) on shares of Goldman Sachs in a research note on Thursday, January 18th. BMO Capital Markets cut their price objective on Goldman Sachs to $221.00 and set a “market perform” rating on the stock in a research report on Thursday, January 18th. Vetr raised Goldman Sachs from a “sell” rating to a “hold” rating and set a $246.36 price target on the stock in a research report on Thursday, February 8th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Goldman Sachs in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $240.00 price objective on shares of Goldman Sachs in a research report on Wednesday, November 15th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $258.79.
Shares of Goldman Sachs stock traded down $5.84 on Thursday, hitting $249.97. The company had a trading volume of 3,621,939 shares, compared to its average volume of 2,834,702. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 3.09. The company has a market cap of $97,178.89, a PE ratio of 12.65, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37. Goldman Sachs has a 1 year low of $209.62 and a 1 year high of $275.31.
Goldman Sachs (NYSE:GS) last released its earnings results on Wednesday, January 17th. The investment management company reported $5.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.90 by $0.78. The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.64 billion. Goldman Sachs had a return on equity of 11.66% and a net margin of 13.36%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business posted $5.08 earnings per share. research analysts anticipate that Goldman Sachs will post 21.83 EPS for the current year.
In related news, insider David M. Solomon sold 21,252 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $271.65, for a total value of $5,773,105.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Pablo J. Salame sold 10,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $270.42, for a total transaction of $2,704,200.00. The disclosure for this sale can be found here. Insiders sold a total of 83,548 shares of company stock worth $22,064,172 over the last three months. 2.57% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Meyer Handelman Co. increased its position in shares of Goldman Sachs by 7.1% during the third quarter. Meyer Handelman Co. now owns 47,656 shares of the investment management company’s stock worth $11,302,000 after acquiring an additional 3,156 shares during the period. Regentatlantic Capital LLC increased its position in shares of Goldman Sachs by 2.4% during the third quarter. Regentatlantic Capital LLC now owns 15,829 shares of the investment management company’s stock worth $3,754,000 after acquiring an additional 366 shares during the period. Doyle Wealth Management increased its position in shares of Goldman Sachs by 3.9% during the third quarter. Doyle Wealth Management now owns 45,867 shares of the investment management company’s stock worth $10,879,000 after acquiring an additional 1,742 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Goldman Sachs by 20.1% during the third quarter. Rehmann Capital Advisory Group now owns 1,586 shares of the investment management company’s stock worth $376,000 after acquiring an additional 265 shares during the period. Finally, Calamos Wealth Management LLC increased its position in shares of Goldman Sachs by 10.7% during the third quarter. Calamos Wealth Management LLC now owns 23,916 shares of the investment management company’s stock worth $5,673,000 after acquiring an additional 2,308 shares during the period. 73.18% of the stock is currently owned by institutional investors.
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Goldman Sachs Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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