The Goldman Sachs Group (NYSE:GS) Lowered to Market Perform Rating by Oppenheimer

The Goldman Sachs Group (NYSE:GS) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday, Marketbeat reports.

Several other research firms have also issued reports on GS. Citigroup lifted their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Morgan Stanley reduced their price objective on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Barclays boosted their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. HSBC downgraded The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $594.27.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $562.49 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a market cap of $175.52 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The firm’s fifty day simple moving average is $610.80 and its 200 day simple moving average is $567.71. The Goldman Sachs Group has a twelve month low of $387.12 and a twelve month high of $672.19.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the firm posted $5.48 earnings per share. As a group, research analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insider Transactions at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total value of $1,275,338.34. Following the transaction, the chief accounting officer now owns 6,455 shares in the company, valued at approximately $4,047,349.55. This represents a 23.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alex S. Golten sold 5,208 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the transaction, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. This represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,925 shares of company stock valued at $12,630,683 over the last ninety days. Insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Stephens Consulting LLC acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group during the fourth quarter worth $29,000. Curio Wealth LLC purchased a new position in The Goldman Sachs Group during the fourth quarter worth $30,000. Transce3nd LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at $31,000. Finally, Whipplewood Advisors LLC acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $34,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

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 Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.