Oppenheimer Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its target price reduced by Oppenheimer from $677.00 to $639.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the investment management company’s stock. Oppenheimer’s price objective indicates a potential upside of 10.15% from the stock’s previous close.

GS has been the subject of several other reports. Morgan Stanley boosted their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted 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. Evercore ISI raised their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays upped their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price objective for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $558.38.

The Goldman Sachs Group Stock Up 0.9 %

GS stock opened at $580.13 on Friday. The stock’s 50 day simple moving average is $578.26 and its 200 day simple moving average is $520.79. The company has a market cap of $182.11 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. 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 Goldman Sachs Group has a fifty-two week low of $372.07 and a fifty-two week high of $612.73.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for 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 quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $5.47 EPS. On average, research analysts expect that The Goldman Sachs Group will post 37.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,940 shares of company stock worth $13,717,979 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GS. Mizuho Securities USA LLC lifted its position in The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after purchasing an additional 7,475,140 shares during the last quarter. FMR LLC lifted its holdings in shares of The Goldman Sachs Group by 21.9% during the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after acquiring an additional 521,054 shares during the last quarter. 1832 Asset Management L.P. grew its position in The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after acquiring an additional 438,754 shares in the last quarter. Janus Henderson Group PLC increased its stake in The Goldman Sachs Group by 154.7% in the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock valued at $205,403,000 after acquiring an additional 251,972 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in The Goldman Sachs Group by 829.0% during the third quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock valued at $128,886,000 after purchasing an additional 232,297 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.