The Goldman Sachs Group (NYSE:GS) Given New $550.00 Price Target at Citigroup

The Goldman Sachs Group (NYSE:GS) had its target price reduced by Citigroup from $585.00 to $550.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the investment management company’s stock. Citigroup’s price target suggests a potential downside of 5.32% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Barclays upped their price objective on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $690.00 to $660.00 in a report on Thursday, February 27th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $591.93.

The Goldman Sachs Group Stock Up 2.8 %

Shares of The Goldman Sachs Group stock traded up $15.74 on Monday, reaching $580.88. The company’s stock had a trading volume of 527,601 shares, compared to its average volume of 2,234,342. The company has a market capitalization of $181.26 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.89 and a beta of 1.37. 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 has a 52 week low of $387.12 and a 52 week high of $672.19. The firm’s fifty day simple moving average is $610.89 and its two-hundred day simple moving average is $569.20.

The Goldman Sachs Group (NYSE:GS) last issued 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 business had revenue of $13.87 billion during 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 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. Equities analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insider Transactions at The Goldman Sachs Group

In other news, Treasurer Carey Halio sold 3,640 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $636.74, for a total transaction of $2,317,733.60. Following the sale, the treasurer now directly owns 4,552 shares of the company’s stock, valued at $2,898,440.48. This represents a 44.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin R. Johnson purchased 2,400 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the purchase, the director now owns 2,400 shares of the company’s stock, valued at $1,485,648. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 19,925 shares of company stock valued at $12,630,683. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors have recently modified their holdings of the stock. Meridian Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 8.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,268 shares of the investment management company’s stock worth $628,000 after purchasing an additional 96 shares during the period. Nicolet Advisory Services LLC grew its position in The Goldman Sachs Group by 4.4% in the 3rd quarter. Nicolet Advisory Services LLC now owns 476 shares of the investment management company’s stock valued at $231,000 after acquiring an additional 20 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in The Goldman Sachs Group by 32.0% in the third quarter. Great Valley Advisor Group Inc. now owns 3,758 shares of the investment management company’s stock worth $1,860,000 after purchasing an additional 912 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 4.3% during the third quarter. Kingsview Wealth Management LLC now owns 4,146 shares of the investment management company’s stock valued at $2,053,000 after purchasing an additional 170 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of The Goldman Sachs Group by 12.3% in the third quarter. Larson Financial Group LLC now owns 1,536 shares of the investment management company’s stock worth $761,000 after purchasing an additional 168 shares during 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.