The Goldman Sachs Group (NYSE:GS) Stock Rating Upgraded by Zacks Research

The Goldman Sachs Group (NYSE:GS) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a research report on Wednesday. Daiwa Securities Group upped their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada restated a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. BMO Capital Markets lifted their target price on shares of The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, Citigroup boosted their price target on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1,061.43.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $1,066.28 on Thursday. The Goldman Sachs Group has a one year low of $691.88 and a one year high of $1,153.99. The stock has a market capitalization of $314.56 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 1.24 and a beta of 1.30. The company has a 50-day simple moving average of $1,035.20 and a 200-day simple moving average of $945.44. The company has a debt-to-equity ratio of 2.83, a quick ratio of 0.63 and a current ratio of 1.11.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The firm had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The business’s revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $10.91 earnings per share. On average, analysts predict that The Goldman Sachs Group will post 64.34 EPS for the current year.

Insiders Place Their Bets

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the transaction, the insider directly owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the transaction, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. This represents a 18.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,566 shares of company stock worth $30,712,978 in the last ninety days. 0.55% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors have recently added to or reduced their stakes in GS. Norges Bank purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $2,515,830,000. Corient Private Wealth LLC grew its holdings in The Goldman Sachs Group by 1,657.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after buying an additional 2,448,767 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at $2,024,921,000. Bank of America Corp DE increased its position in The Goldman Sachs Group by 8.0% during the first quarter. Bank of America Corp DE now owns 6,455,011 shares of the investment management company’s stock worth $5,460,875,000 after buying an additional 476,977 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in The Goldman Sachs Group by 428.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock worth $488,947,000 after buying an additional 450,984 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Key Headlines Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results.
• Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play.
• Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels.
• Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program.
• Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue.
• Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.