Goldman Sachs Group Inc. (GS) Rating Lowered to Neutral at Instinet
Goldman Sachs Group Inc. (NYSE:GS) was downgraded by research analysts at Instinet from a “buy” rating to a “neutral” rating in a report issued on Tuesday. They presently have a $201.00 price target on the investment management company’s stock. Instinet’s price target would suggest a potential downside of 8.34% from the company’s current price.
Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. set a $176.00 price target on Goldman Sachs Group and gave the stock a “buy” rating in a research report on Thursday, September 22nd. Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a research report on Tuesday, September 20th. Nomura restated a “buy” rating and issued a $197.00 price target on shares of Goldman Sachs Group in a research report on Thursday, September 29th. TheStreet upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Oppenheimer Holdings Inc. set a $222.00 price target on Goldman Sachs Group and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus target price of $189.26.
Shares of Goldman Sachs Group (NYSE:GS) opened at 219.29 on Tuesday. The company has a market capitalization of $91.84 billion, a PE ratio of 17.60 and a beta of 1.55. The firm’s 50-day moving average price is $188.13 and its 200 day moving average price is $166.75. Goldman Sachs Group has a one year low of $138.20 and a one year high of $220.77.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 18th. The investment management company reported $4.88 EPS for the quarter, topping the Zacks’ 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 company had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter last year, the business earned $4.51 earnings per share. Goldman Sachs Group’s revenue was up 19.0% on a year-over-year basis. Analysts anticipate that Goldman Sachs Group will post $15.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 1st will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, November 29th. This represents a $2.60 annualized dividend and a yield of 1.19%. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 20.72%.
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In related news, EVP Alan M. Cohen sold 5,000 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $181.19, for a total transaction of $905,950.00. Following the completion of the sale, the executive vice president now owns 61,444 shares in the company, valued at $11,133,038.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sarah G. Smith sold 2,664 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $180.00, for a total value of $479,520.00. Following the sale, the insider now owns 13,075 shares of the company’s stock, valued at approximately $2,353,500. The disclosure for this sale can be found here. Corporate insiders own 2.61% of the company’s stock.
Large investors have recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. acquired a new position in Goldman Sachs Group during the second quarter valued at $102,000. Nelson Roberts Investment Advisors LLC boosted its position in 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 in the last quarter. Bamco Inc. NY acquired a new position in Goldman Sachs Group during the third quarter valued at $129,000. Alpha Windward LLC boosted its position in 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 in the last quarter. Finally, Cedar Wealth Management LLC boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 69.61% of the company’s stock.
About Goldman Sachs Group
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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