JPMorgan Chase & Co. Lowers The Goldman Sachs Group (NYSE:GS) Price Target to $614.00

The Goldman Sachs Group (NYSE:GS) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $625.00 to $614.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 30.76% from the company’s current price.

Several other equities research analysts have also recently commented on GS. Keefe, Bruyette & Woods cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. UBS Group lifted their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Citigroup cut their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Barclays lifted their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Evercore ISI cut their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $589.19.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $469.57 on Thursday. The business has a fifty day moving average of $597.54 and a 200-day moving average of $572.76. The firm has a market cap of $146.52 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. 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 twelve month low of $387.12 and a twelve month high of $672.19.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same period in the previous year, the firm posted $5.48 earnings per share. The company’s revenue was up 22.5% on a year-over-year basis. On average, equities research analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Insider Activity

In related news, insider Alex S. Golten sold 5,208 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the sale, the insider now owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total value of $965,115.15. Following the transaction, the treasurer now directly owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This trade represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock worth $12,630,683 over the last quarter. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of large investors have recently modified their holdings of GS. Norges Bank acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $1,603,315,000. Castlekeep Investment Advisors LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $944,334,000. Raymond James Financial Inc. acquired a new position in The Goldman Sachs Group during the fourth quarter worth $624,844,000. Proficio Capital Partners LLC raised its position in The Goldman Sachs Group by 14,007.0% during the fourth quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company’s stock worth $606,815,000 after acquiring an additional 1,052,204 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of The Goldman Sachs Group by 214.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company’s stock valued at $741,018,000 after acquiring an additional 882,099 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.