The Goldman Sachs Group (NYSE:GS) Rating Lowered to Hold at Hsbc Global Res

The Goldman Sachs Group (NYSE:GS) was downgraded by equities researchers at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Oppenheimer raised their price objective on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, Barclays lifted their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $550.63.

The Goldman Sachs Group Trading Down 0.0 %

Shares of NYSE GS opened at $605.42 on Tuesday. The company’s fifty day moving average is $536.69 and its 200-day moving average is $497.33. The stock has a market cap of $190.05 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group has a twelve month low of $334.87 and a twelve month high of $612.25. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

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

Insider Buying and Selling at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value 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 is available through the SEC website. 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 transaction of $1,061,800.00. Following the transaction, the insider now directly 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. In the last ninety days, insiders sold 11,390 shares of company stock worth $6,656,119. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GS. Franklin Resources Inc. lifted its stake in shares of The Goldman Sachs Group by 3.9% in the third quarter. Franklin Resources Inc. now owns 1,660,088 shares of the investment management company’s stock valued at $898,428,000 after buying an additional 62,246 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of The Goldman Sachs Group by 4.7% in the third quarter. Synovus Financial Corp now owns 15,998 shares of the investment management company’s stock valued at $7,920,000 after buying an additional 724 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of The Goldman Sachs Group by 6.3% in the third quarter. Tidal Investments LLC now owns 11,691 shares of the investment management company’s stock valued at $5,788,000 after buying an additional 688 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of The Goldman Sachs Group by 18.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 8,563 shares of the investment management company’s stock valued at $4,240,000 after buying an additional 1,351 shares in the last quarter. Finally, World Investment Advisors LLC lifted its stake in shares of The Goldman Sachs Group by 15.2% in the third quarter. World Investment Advisors LLC now owns 4,185 shares of the investment management company’s stock valued at $2,072,000 after buying an additional 552 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

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.