Goldman Sachs Group Inc. (GS) Rating Lowered to Neutral at Instinet
Goldman Sachs Group Inc. (NYSE:GS) was downgraded by analysts at Instinet from a “buy” rating to a “neutral” rating in a report released on Tuesday. They presently have a $201.00 price target on the investment management company’s stock. Instinet’s price target points to a potential downside of 8.34% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. set a $176.00 target price on Goldman Sachs Group and gave the company a “buy” rating in a research note on Thursday, September 22nd. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research note on Tuesday, September 20th. Nomura restated a “buy” rating and issued a $197.00 target price on shares of Goldman Sachs Group in a research note on Thursday, September 29th. TheStreet upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Finally, Oppenheimer Holdings Inc. set a $222.00 target price on Goldman Sachs Group and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $189.26.
Goldman Sachs Group (NYSE:GS) opened at 219.29 on Tuesday. The firm has a 50-day moving average price of $188.13 and a 200 day moving average price of $166.75. Goldman Sachs Group has a 52-week low of $138.20 and a 52-week high of $220.77. The stock has a market cap of $91.84 billion, a PE ratio of 17.60 and a beta of 1.55.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 18th. The investment management company reported $4.88 earnings per share for the quarter, topping the consensus estimate of $3.79 by $1.09. Goldman Sachs Group had a return on equity of 9.73% and a net margin of 19.58%. The business earned $8.17 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter last year, the business posted $4.51 EPS. The business’s revenue was up 19.0% on a year-over-year basis. On average, analysts forecast that Goldman Sachs Group will post $15.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 1st will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $2.60 annualized dividend and a dividend yield of 1.19%. Goldman Sachs Group’s payout ratio is 20.72%.
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In other news, EVP Alan M. Cohen sold 5,000 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $181.19, for a total value of $905,950.00. Following the transaction, the executive vice president now directly owns 61,444 shares in the company, valued at $11,133,038.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Lloyd C. Blankfein sold 2,483 shares of the business’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $206.23, for a total value of $512,069.09. Following the completion of the transaction, the chairman now owns 1,524,471 shares in the company, valued at $314,391,654.33. The disclosure for this sale can be found here. 2.61% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in GS. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Goldman Sachs Group during the second quarter valued at about $102,000. Nelson Roberts Investment Advisors LLC boosted its stake in shares of Goldman Sachs Group by 26.8% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 710 shares of the investment management company’s stock valued at $105,000 after buying an additional 150 shares during the period. Bamco Inc. NY purchased a new stake in shares of Goldman Sachs Group during the third quarter valued at about $129,000. Alpha Windward LLC boosted its stake in shares of Goldman Sachs Group by 2.2% in the third quarter. Alpha Windward LLC now owns 838 shares of the investment management company’s stock valued at $135,000 after buying an additional 18 shares during the period. Finally, Cedar Wealth Management LLC boosted its stake in shares of Goldman Sachs Group by 42.9% in the second quarter. Cedar Wealth Management LLC now owns 946 shares of the investment management company’s stock valued at $141,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 69.61% of the company’s stock.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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