The Goldman Sachs Group (NYSE:GS) Price Target Cut to $614.00 by Analysts at JPMorgan Chase & Co.

The Goldman Sachs Group (NYSE:GS) had its price target lowered by JPMorgan Chase & Co. from $625.00 to $614.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 30.76% from the stock’s current price.

Several other analysts have also recently weighed in on GS. Wells Fargo & Company dropped their price target on The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a report on Friday, March 28th. UBS Group boosted their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Oppenheimer cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley reduced their price target on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $589.19.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $469.57 on Thursday. The company has a market cap of $146.52 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.89 and a beta of 1.33. The firm’s fifty day moving average price is $597.54 and its two-hundred day moving average price is $572.76. The Goldman Sachs Group has a one year low of $387.12 and a one year high of $672.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67.

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

Insider Activity

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the sale, the treasurer now owns 8,192 shares in the company, valued at approximately $5,117,296.64. The trade was a 15.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alex S. Golten sold 5,208 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now directly owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. The trade was a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock valued at $12,630,683 over the last quarter. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several large investors have recently modified their holdings of GS. Stephens Consulting LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter worth about $26,000. Asset Planning Inc bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $29,000. Curio Wealth LLC acquired a new stake in The Goldman Sachs Group during the fourth quarter worth approximately $30,000. Transce3nd LLC bought a new stake in The Goldman Sachs Group in the fourth quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $31,000. 71.21% of the stock is currently 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.