The Goldman Sachs Group (NYSE:GS) Raised to “Hold” at Wolfe Research

The Goldman Sachs Group (NYSE:GS) was upgraded by investment analysts at Wolfe Research to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

Several other equities analysts also recently issued reports on GS. Seaport Res Ptn downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Citigroup lifted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Evercore ISI upped their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Finally, Wells Fargo & Company upped their target price on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $496.44.

The Goldman Sachs Group Stock Down 1.1 %

Shares of NYSE:GS opened at $498.28 on Wednesday. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $517.26. The company has a market capitalization of $160.68 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 0.73 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day moving average of $491.96 and a 200-day moving average of $454.28.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. On average, equities analysts predict that The Goldman Sachs Group will post 35.5 EPS for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the completion of the transaction, the director now directly owns 12,450 shares of the company’s stock, valued at $6,287,748. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

Hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC grew its position in shares of The Goldman Sachs Group by 10.0% during the 2nd quarter. Anchor Investment Management LLC now owns 3,277 shares of the investment management company’s stock valued at $1,482,000 after acquiring an additional 298 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in The Goldman Sachs Group by 116.3% in the second quarter. Newbridge Financial Services Group Inc. now owns 437 shares of the investment management company’s stock valued at $198,000 after purchasing an additional 235 shares during the last quarter. Bluefin Capital Management LLC bought a new position in The Goldman Sachs Group during the second quarter valued at $814,000. Lazari Capital Management Inc. increased its position in The Goldman Sachs Group by 2.7% in the second quarter. Lazari Capital Management Inc. now owns 1,308 shares of the investment management company’s stock worth $592,000 after buying an additional 34 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the second quarter valued at $15,155,000. Institutional investors own 71.21% of the company’s stock.

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.