The stock of Goldman Sachs Group Inc (NYSE:GS) hit a new 52-week high and has $234.40 target or 7.00% above today’s $219.07 share price. The 8 months bullish chart indicates low risk for the $87.69 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $234.40 price target is reached, the company will be worth $6.14B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.31M shares traded hands. Goldman Sachs Group Inc (NYSE:GS) has risen 26.86% since April 27, 2016 and is uptrending. It has outperformed by 21.63% the S&P500.
Analysts await Goldman Sachs Group Inc (NYSE:GS) to report earnings on January, 18. They expect $4.42 EPS, down 5.56% or $0.26 from last year’s $4.68 per share. GS’s profit will be $1.77 billion for 12.39 P/E if the $4.42 EPS becomes a reality. After $4.88 actual EPS reported by Goldman Sachs Group Inc for the previous quarter, Wall Street now forecasts -9.43% negative EPS growth.
Goldman Sachs Group Inc (NYSE:GS) Ratings Coverage
Out of 21 analysts covering Goldman Sachs Group Inc. (NYSE:GS), 12 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 57% are positive. $259.0 is the highest target while $140 is the lowest. The $192.98 average target is -11.91% below today’s ($219.07) stock price. Goldman Sachs Group Inc. has been the topic of 44 analyst reports since July 21, 2015 according to StockzIntelligence Inc. UBS maintained Goldman Sachs Group Inc (NYSE:GS) rating on Friday, October 16. UBS has “Neutral” rating and $180 price target. RBC Capital Markets maintained Goldman Sachs Group Inc (NYSE:GS) on Wednesday, October 19 with “Sector Perform” rating. The firm earned “Buy” rating on Monday, October 17 by Rafferty. Instinet downgraded the stock to “Neutral” rating in Tuesday, November 29 report. The rating was upgraded by Keefe Bruyette & Woods to “Outperform” on Tuesday, November 29. The firm has “Neutral” rating given on Tuesday, November 8 by Citigroup. The rating was upgraded by Vetr on Monday, August 24 to “Buy”. Deutsche Bank maintained it with “Hold” rating and $215 target price in Wednesday, August 12 report. The firm has “Neutral” rating by Guggenheim given on Thursday, October 20. The firm has “Buy” rating given on Monday, August 31 by Evercore.
According to Zacks Investment Research, “Goldman Sachs is a global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments, and high net worth individuals. (Company Press Release)”
Insitutional Activity: The institutional sentiment increased to 0.86 in 2016 Q2. Its up 0.05, from 0.81 in 2016Q1. The ratio is positive, as 92 funds sold all Goldman Sachs Group Inc shares owned while 379 reduced positions. 86 funds bought stakes while 297 increased positions. They now own 282.96 million shares or 8.29% less from 308.54 million shares in 2016Q1.
Neuberger Berman Grp Ltd Llc holds 0.58% or 2.83 million shares in its portfolio. Sumitomo Mitsui Tru has invested 0.3% of its portfolio in Goldman Sachs Group Inc (NYSE:GS). The Switzerland-based Banque Pictet Cie Sa has invested 0.04% in Goldman Sachs Group Inc (NYSE:GS). Dnb Asset Mngmt As reported 33,293 shares or 0% of all its holdings. Arrow Fincl holds 19,737 shares or 0.76% of its portfolio. Artemis Mgmt Llp last reported 0.2% of its portfolio in the stock. Cullinan Associates holds 7,200 shares or 0.09% of its portfolio. Fifth Third Bancshares holds 0.05% or 42,123 shares in its portfolio. Clearbridge Ltd Liability Corp holds 0.01% or 66,156 shares in its portfolio. Moreover, Int Value Advisers Llc has 2.87% invested in Goldman Sachs Group Inc (NYSE:GS) for 651,137 shares. Bokf Na reported 32,963 shares or 0.17% of all its holdings. The New Hampshire-based Charter Trust has invested 0.06% in Goldman Sachs Group Inc (NYSE:GS). Us Bancorporation De accumulated 172,859 shares or 0.1% of the stock. Cibc World Inc reported 18,608 shares or 0.01% of all its holdings. Birinyi Associates Incorporated has invested 1.88% of its portfolio in Goldman Sachs Group Inc (NYSE:GS).
Insider Transactions: Since August 26, 2016, the stock had 0 insider purchases, and 19 selling transactions for $23.11 million net activity. Another trade for 2,664 shares valued at $479,520 was sold by SMITH SARAH G. BLANKFEIN LLOYD C also sold $529,134 worth of Goldman Sachs Group Inc (NYSE:GS) on Friday, November 18. On Friday, November 11 VINIAR DAVID A sold $299,681 worth of the stock or 1,448 shares. Shares for $4.99 million were sold by COOPER EDITH W. Shares for $905,941 were sold by COHEN ALAN M on Monday, November 7. Shares for $47,001 were sold by ROGERS JOHN F.W. on Friday, November 11. 1,493 shares with value of $314,665 were sold by PALM GREGORY K on Tuesday, November 15.
More important recent Goldman Sachs Group Inc (NYSE:GS) news were published by: Bloomberg.com which released: “Deutsche Bank Makes a Big, Bullish Call on Goldman Sachs” on November 30, 2016, also Bloomberg.com published article titled: “Trump Meets With Goldman’s Cohn as Dinner Set With Romney”, Wsj.com published: “Goldman Sachs Drops Out of R3 Blockchain Group” on November 21, 2016. More interesting news about Goldman Sachs Group Inc (NYSE:GS) was released by: Marketwatch.com and their article: “Trump to tap ex-Goldman Sachs banker Steven Mnuchin as Treasury secretary” with publication date: November 29, 2016.
GS Company Profile
The Goldman Sachs Group, Inc., incorporated on July 21, 1998, is a bank holding firm and a financial holding company. The Firm is an investment banking, securities and investment management firm that provides a range of financial services to a diversified client base that includes firms, financial institutions, governments and individuals. The Firm operates through four divisions: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s United States depository institution subsidiary, Goldman Sachs Bank USA (GS Bank USA), is a New York State chartered bank.
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