The Goldman Sachs Group (NYSE:GS) Downgraded by Hsbc Global Res to Hold

Hsbc Global Res cut shares of The Goldman Sachs Group (NYSE:GS) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Oppenheimer boosted their target price on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Finally, HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $569.00 to $608.00 in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.63.

The Goldman Sachs Group Price Performance

GS opened at $605.43 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $190.05 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The stock’s 50 day moving average price is $538.72 and its 200-day moving average price is $498.08. The Goldman Sachs Group has a 52-week low of $334.87 and a 52-week high of $612.25.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.47 EPS. On average, equities research analysts predict that The Goldman Sachs Group will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 1.98%. The Goldman Sachs Group’s payout ratio is 35.21%.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,390 shares of company stock valued at $6,656,119. 0.54% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC increased its position in shares of The Goldman Sachs Group by 1.8% during the 1st quarter. Janus Henderson Group PLC now owns 57,734 shares of the investment management company’s stock valued at $24,114,000 after purchasing an additional 1,002 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in The Goldman Sachs Group by 13.1% in the first quarter. Citizens Financial Group Inc. RI now owns 1,294 shares of the investment management company’s stock worth $540,000 after acquiring an additional 150 shares during the period. LRI Investments LLC purchased a new position in shares of The Goldman Sachs Group during the 1st quarter worth $80,000. Atria Investments Inc grew its position in shares of The Goldman Sachs Group by 3.3% during the 1st quarter. Atria Investments Inc now owns 19,379 shares of the investment management company’s stock valued at $8,093,000 after acquiring an additional 612 shares during the period. Finally, PGGM Investments increased its stake in shares of The Goldman Sachs Group by 341.8% in the 1st quarter. PGGM Investments now owns 11,527 shares of the investment management company’s stock worth $4,815,000 after purchasing an additional 8,918 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.