The Goldman Sachs Group (NYSE:GS) Rating Lowered to Hold at HSBC

The Goldman Sachs Group (NYSE:GS) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a report issued on Tuesday, Marketbeat Ratings reports. They presently have a $608.00 price target on the investment management company’s stock, up from their previous price target of $569.00. HSBC’s price objective would indicate a potential upside of 0.43% from the company’s previous close.

Several other brokerages have also issued reports on GS. Morgan Stanley boosted their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Citigroup increased their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, UBS Group increased their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $550.63.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $605.42 on Tuesday. The stock has a market capitalization of $190.05 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group has a 1-year low of $334.87 and a 1-year high of $612.25. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The business has a 50-day moving average price of $536.69 and a two-hundred day moving average price of $497.33.

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

Insiders Place Their Bets

In other news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock worth $6,656,119 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several large investors have recently bought and sold shares of the business. Waddell & Associates LLC boosted its stake in The Goldman Sachs Group by 2.1% in the third quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock valued at $444,000 after buying an additional 18 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its stake in The Goldman Sachs Group by 0.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock valued at $1,346,000 after buying an additional 18 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in The Goldman Sachs Group by 0.8% in the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after buying an additional 20 shares in the last quarter. First Pacific Financial boosted its stake in The Goldman Sachs Group by 0.6% in the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after buying an additional 20 shares in the last quarter. Finally, Krane Funds Advisors LLC boosted its stake in The Goldman Sachs Group by 1.7% in the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after buying an additional 20 shares in the last quarter. 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.