The Goldman Sachs Group (NYSE:GS) Stock Rating Lowered by HSBC

The Goldman Sachs Group (NYSE:GS) was downgraded by investment analysts at HSBC from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $608.00 price target on the investment management company’s stock, up from their prior price target of $569.00. HSBC’s price target would indicate a potential upside of 0.82% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Bank of America raised their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. 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 research note on Wednesday, October 16th. Finally, Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $550.63.

The Goldman Sachs Group Trading Up 0.0 %

NYSE:GS opened at $603.03 on Tuesday. The Goldman Sachs Group has a 12 month low of $334.87 and a 12 month high of $611.30. The firm has a market cap of $189.30 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 0.88 and a beta of 1.35. 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 company’s 50 day moving average is $531.87 and its 200-day moving average is $495.51.

The Goldman Sachs Group (NYSE:GS) last released 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 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 analyst estimates of $11.77 billion. During the same quarter last year, the firm posted $5.47 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that The Goldman Sachs Group will post 37.15 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the sale, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock valued at $6,656,119 over the last ninety days. 0.57% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC grew its position in shares of The Goldman Sachs Group by 1.8% in the 1st quarter. Janus Henderson Group PLC now owns 57,734 shares of the investment management company’s stock valued at $24,114,000 after purchasing an additional 1,002 shares during the period. Comerica Bank grew its position in shares of The Goldman Sachs Group by 2.8% in the 1st quarter. Comerica Bank now owns 87,600 shares of the investment management company’s stock valued at $36,590,000 after purchasing an additional 2,396 shares during the period. New Covenant Trust Company N.A. acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $212,000. Lummis Asset Management LP grew its position in shares of The Goldman Sachs Group by 7.4% in the 1st quarter. Lummis Asset Management LP now owns 3,978 shares of the investment management company’s stock valued at $1,662,000 after purchasing an additional 275 shares during the period. Finally, Rokos Capital Management LLP acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $41,230,000. 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.