JPMorgan Chase & Co. Boosts The Goldman Sachs Group (NYSE:GS) Price Target to $520.00

The Goldman Sachs Group (NYSE:GS) had its price target upped by JPMorgan Chase & Co. from $472.00 to $520.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 2.62% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Evercore ISI increased their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Barclays increased their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. UBS Group raised their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Citigroup raised their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $523.25.

The Goldman Sachs Group Stock Up 2.2 %

Shares of The Goldman Sachs Group stock traded up $11.61 during trading hours on Wednesday, hitting $533.99. The company had a trading volume of 1,416,976 shares, compared to its average volume of 2,215,837. The company’s 50-day moving average is $495.39 and its two-hundred day moving average is $467.39. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $540.51. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $172.19 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The Goldman Sachs Group’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.47 EPS. Analysts anticipate that The Goldman Sachs Group will post 35.52 earnings per share for the current fiscal year.

Institutional Trading of The Goldman Sachs Group

Hedge funds have recently made changes to their positions in the company. Semmax Financial Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group during the second quarter valued at approximately $26,000. POM Investment Strategies LLC bought a new stake in shares of The Goldman Sachs Group in the second quarter worth $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group in the second quarter worth $27,000. SJS Investment Consulting Inc. increased its stake in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.