Goldman Sachs Group (NYSE:GS) Rating Reiterated by Wells Fargo & Co

Goldman Sachs Group (NYSE:GS)‘s stock had its “buy” rating reissued by equities research analysts at Wells Fargo & Co in a report released on Thursday, September 20th.

GS has been the topic of a number of other research reports. ValuEngine cut Goldman Sachs Group from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. Zacks Investment Research cut Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Societe Generale upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $280.00 target price on shares of Goldman Sachs Group in a report on Tuesday, July 17th. Finally, Oppenheimer increased their target price on Goldman Sachs Group from $304.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Goldman Sachs Group presently has an average rating of “Hold” and a consensus price target of $275.08.

NYSE GS traded up $0.90 on Thursday, hitting $213.87. 4,159,502 shares of the company’s stock were exchanged, compared to its average volume of 3,114,379. The stock has a market capitalization of $84.66 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 0.72 and a beta of 1.28. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.02. Goldman Sachs Group has a fifty-two week low of $210.95 and a fifty-two week high of $275.31.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 17th. The investment management company reported $5.98 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $1.32. The business had revenue of $9.40 billion for the quarter, compared to analysts’ expectations of $8.74 billion. Goldman Sachs Group had a return on equity of 13.58% and a net margin of 15.72%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.95 EPS. Equities analysts forecast that Goldman Sachs Group will post 24.69 earnings per share for the current fiscal year.

In related news, insider David M. Solomon sold 8,488 shares of Goldman Sachs Group stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $237.92, for a total value of $2,019,464.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Solomon sold 8,382 shares of Goldman Sachs Group stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $232.08, for a total value of $1,945,294.56. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of GS. The Manufacturers Life Insurance Company raised its holdings in shares of Goldman Sachs Group by 3.5% during the first quarter. The Manufacturers Life Insurance Company now owns 3,519,529 shares of the investment management company’s stock valued at $886,429,000 after buying an additional 118,249 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Goldman Sachs Group by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 3,263,236 shares of the investment management company’s stock valued at $719,772,000 after buying an additional 175,540 shares during the last quarter. Boston Partners raised its holdings in shares of Goldman Sachs Group by 3.5% during the second quarter. Boston Partners now owns 3,105,353 shares of the investment management company’s stock valued at $684,948,000 after buying an additional 103,613 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Goldman Sachs Group by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,738,522 shares of the investment management company’s stock valued at $604,097,000 after buying an additional 172,940 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Goldman Sachs Group by 9.2% during the first quarter. OppenheimerFunds Inc. now owns 1,981,020 shares of the investment management company’s stock valued at $498,940,000 after buying an additional 166,434 shares during the last quarter. Institutional investors and hedge funds own 70.99% of the company’s stock.

About Goldman Sachs Group

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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