Wells Fargo & Company Has Lowered Expectations for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its target price decreased by analysts at Wells Fargo & Company from $720.00 to $680.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 25.22% from the company’s current price.

Other analysts have also issued research reports about the stock. Barclays raised their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. UBS Group upped 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 lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Finally, Morgan Stanley cut their target price 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. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $590.60.

The Goldman Sachs Group Trading Down 2.8 %

Shares of The Goldman Sachs Group stock opened at $543.04 on Friday. The company’s fifty day moving average price is $608.15 and its two-hundred day moving average price is $571.66. The firm has a market capitalization of $169.45 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group has a 52-week low of $387.12 and a 52-week 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 the consensus estimate 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 return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.48 EPS. On average, analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In other news, Director Kevin R. Johnson bought 2,400 shares of the stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the completion of the purchase, the director now directly owns 2,400 shares in the company, valued at $1,485,648. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the sale, the insider now owns 3,545 shares in the company, valued at $2,255,506.25. The trade was a 59.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,925 shares of company stock valued at $12,630,683 over the last 90 days. Insiders own 0.55% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently bought and sold shares of GS. Stephens Consulting LLC bought a new stake in The Goldman Sachs Group during the fourth quarter valued at $26,000. Asset Planning Inc bought a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $29,000. Curio Wealth LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $30,000. Transce3nd LLC bought a new position in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. 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.