The Goldman Sachs Group (NYSE:GS) PT Lowered to $332.00

The Goldman Sachs Group (NYSE:GSGet Rating) had its price target cut by equities researchers at Morgan Stanley from $356.00 to $332.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the investment management company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 5.35% from the stock’s current price.

Other research analysts also recently issued reports about the stock. StockNews.com started coverage on shares of The Goldman Sachs Group in a report on Wednesday, October 12th. They set a “hold” rating for the company. Odeon Capital Group upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $370.14 target price for the company in a research report on Tuesday, January 10th. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $385.00 to $405.00 and gave the stock an “overweight” rating in a report on Tuesday, December 6th. Barclays raised their price objective on shares of The Goldman Sachs Group from $410.00 to $495.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Finally, Atlantic Securities lowered shares of The Goldman Sachs Group from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $330.00 to $290.00 in a report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $396.83.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $350.75 on Wednesday. The Goldman Sachs Group has a twelve month low of $277.84 and a twelve month high of $389.58. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.21. The stock’s 50-day simple moving average is $363.02 and its 200 day simple moving average is $338.22. The firm has a market capitalization of $118.78 billion, a PE ratio of 9.34 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GSGet Rating) last posted its quarterly earnings results on Tuesday, January 17th. The investment management company reported $3.32 earnings per share for the quarter, missing analysts’ consensus estimates of $5.77 by ($2.45). The company had revenue of $10.59 billion during the quarter, compared to analyst estimates of $10.91 billion. The Goldman Sachs Group had a net margin of 22.50% and a return on equity of 13.23%. The company’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.81 earnings per share. On average, analysts anticipate that The Goldman Sachs Group will post 31.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 7,400 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $341.16, for a total transaction of $2,524,584.00. Following the transaction, the chief executive officer now owns 115,019 shares in the company, valued at approximately $39,239,882.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Goldman Sachs Group Inc sold 3,186,888 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $22.56, for a total value of $71,896,193.28. Following the completion of the sale, the insider now directly owns 24,826,071 shares of the company’s stock, valued at approximately $560,076,161.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David M. Solomon sold 7,400 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $341.16, for a total value of $2,524,584.00. Following the transaction, the chief executive officer now directly owns 115,019 shares in the company, valued at $39,239,882.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,847,711 shares of company stock worth $117,408,700. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Institutional investors have recently modified their holdings of the company. Asset Dedication LLC lifted its stake in shares of The Goldman Sachs Group by 5.5% in the fourth quarter. Asset Dedication LLC now owns 10,255 shares of the investment management company’s stock valued at $3,527,000 after buying an additional 532 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in The Goldman Sachs Group by 3.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 30,153 shares of the investment management company’s stock valued at $10,354,000 after acquiring an additional 937 shares in the last quarter. Marino Stram & Associates LLC boosted its stake in The Goldman Sachs Group by 11.0% during the 4th quarter. Marino Stram & Associates LLC now owns 769 shares of the investment management company’s stock valued at $264,000 after purchasing an additional 76 shares during the last quarter. Arlington Partners LLC increased its holdings in The Goldman Sachs Group by 4.1% during the 4th quarter. Arlington Partners LLC now owns 1,531 shares of the investment management company’s stock worth $526,000 after purchasing an additional 61 shares in the last quarter. Finally, Tsfg LLC raised its stake in shares of The Goldman Sachs Group by 15.0% in the fourth quarter. Tsfg LLC now owns 615 shares of the investment management company’s stock worth $211,000 after purchasing an additional 80 shares during the last quarter. 69.09% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

(Get Rating)

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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.

See Also

Analyst Recommendations for The Goldman Sachs Group (NYSE:GS)

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