JPMorgan Chase & Co. Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $605.00

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $550.00 to $605.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the investment management company's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 1.17% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. JMP Securities raised their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a "market outperform" rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Wolfe Research raised shares of The Goldman Sachs Group to a "hold" rating in a report on Wednesday, September 18th. Hsbc Global Res cut shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Finally, HSBC cut shares of The Goldman Sachs Group from a "buy" rating to a "hold" rating and raised their price objective for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $589.19.

The Goldman Sachs Group Stock Up 1.0 %

NYSE:GS traded up $6.25 during mid-day trading on Thursday, hitting $612.17. The stock had a trading volume of 3,221,805 shares, compared to its average volume of 2,463,310. The stock has a 50-day simple moving average of $585.87 and a two-hundred day simple moving average of $528.13. The company has a market capitalization of $192.17 billion, a PE ratio of 17.96, a PEG ratio of 0.66 and a beta of 1.38. The Goldman Sachs Group has a twelve month low of $372.07 and a twelve month high of $616.84. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74. The firm had revenue of $13.87 billion for the quarter, compared to analysts' expectations of $12.36 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm's revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.48 earnings per share. On average, equities research analysts anticipate that The Goldman Sachs Group will post 37.24 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the sale, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction on Friday, November 29th. The stock was sold at an average price of $612.08, for a total value of $3,060,400.00. Following the transaction, the director now directly owns 608,425 shares of the company's stock, valued at $372,404,774. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,940 shares of company stock worth $12,656,179 in the last three months. Insiders own 0.57% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GS. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group in the 2nd quarter valued at about $26,000. Quest Partners LLC raised its stake in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company's stock valued at $29,000 after purchasing an additional 63 shares during the last quarter. West Branch Capital LLC acquired a new position in The Goldman Sachs Group in the 3rd quarter valued at about $30,000. DT Investment Partners LLC raised its stake in The Goldman Sachs Group by 110.0% in the 3rd quarter. DT Investment Partners LLC now owns 63 shares of the investment management company's stock valued at $31,000 after purchasing an additional 33 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of The Goldman Sachs Group during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds 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.