The Goldman Sachs Group (NYSE:GS) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of The Goldman Sachs Group (NYSE:GS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently issued reports on GS. Keefe, Bruyette & Woods dropped their target price on The Goldman Sachs Group from $1,130.00 to $1,100.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 14th. TD Cowen began coverage on shares of The Goldman Sachs Group in a research note on Thursday, October 8th. They issued a “buy” rating and a $1,050.00 price objective on the stock. UBS Group dropped their price objective on shares of The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating on the stock in a report on Monday, November 2nd. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 18th. Finally, Jefferies Financial Group set a $1,299.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and an average price target of $1,052.04.

The Goldman Sachs Group Price Performance

NYSE GS opened at $865.88 on Friday. The stock has a market capitalization of $249.75 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.81 and a beta of 1.29. The Goldman Sachs Group has a 1-year low of $754.00 and a 1-year high of $1,153.99. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.61 and a quick ratio of 0.63. The business’s fifty day moving average price is $932.40 and its 200-day moving average price is $956.58.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, topping the consensus estimate of $12.86 by $4.15. The company had revenue of $18.68 billion during the quarter, compared to analyst estimates of $16.83 billion. The Goldman Sachs Group had a return on equity of 20.21% and a net margin of 15.77%. The Goldman Sachs Group’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.25 earnings per share. On average, equities analysts predict that The Goldman Sachs Group will post 71.49 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be given a $5.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio is presently 28.76%.

Insider Transactions at The Goldman Sachs Group

In other news, insider Ericka T. Leslie sold 100 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $926.28, for a total transaction of $92,628.00. Following the transaction, the insider directly owned 10,460 shares of the company’s stock, valued at $9,688,888.80. The trade was a 0.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Solomon sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $910.72, for a total value of $10,928,640.00. Following the transaction, the chief executive officer owned 159,180 shares of the company’s stock, valued at approximately $144,968,409.60. This trade represents a 7.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 12,500 shares of company stock valued at $11,380,508. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Large investors have recently added to or reduced their stakes in the company. Cornerstone Advisory LLC raised its position in The Goldman Sachs Group by 3.1% during the third quarter. Cornerstone Advisory LLC now owns 786 shares of the investment management company’s stock valued at $708,000 after purchasing an additional 24 shares during the period. Condor Capital Management grew its holdings in The Goldman Sachs Group by 0.7% during the 3rd quarter. Condor Capital Management now owns 5,156 shares of the investment management company’s stock valued at $4,643,000 after purchasing an additional 35 shares during the last quarter. AlpenGlobal Capital LLC raised its position in The Goldman Sachs Group by 12.5% in the 3rd quarter. AlpenGlobal Capital LLC now owns 2,269 shares of the investment management company’s stock worth $2,043,000 after purchasing an additional 252 shares during the period. Shah Wealth Advisors LLC purchased a new stake in The Goldman Sachs Group in the 3rd quarter worth about $205,000. Finally, Wellington Grp LLC lifted its stake in The Goldman Sachs Group by 23.7% in the third quarter. Wellington Grp LLC now owns 2,388 shares of the investment management company’s stock worth $2,150,000 after purchasing an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Trending Headlines about The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Bank of America Securities maintained its Buy rating and $1,050 price target, citing stronger client relationships, growth investments and resilient fee income. Goldman Sachs Earns Buy Rating
• Positive Sentiment: ETFs were reported to have bought a net $108.5 million of GS shares on Nov. 4, indicating institutional fund demand, though flows can fluctuate. ETFs Bought Goldman Shares
• Neutral Sentiment: The Supreme Court agreed to consider Goldman’s bid over whether bankruptcy courts can override arbitration agreements. The decision could affect the enforceability of arbitration agreements, but the outcome and financial implications are not yet known. Supreme Court to Hear Goldman Sachs’ Bankruptcy Arbitration Bid
• Negative Sentiment: Goldman’s trading desk reportedly saw buyers disappear during a sharp technology-led market selloff. That broad risk-off backdrop may weigh on the shares regardless of company-specific fundamentals. Goldman Sachs’ Trading Desk Sees Buyers Disappear During Selloff

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services firm founded in 1869 and headquartered in New York City. It serves corporations, financial institutions, governments and individuals across major financial markets worldwide.

The company’s businesses include investment banking, global markets, and asset and wealth management. Its services include advising on mergers and acquisitions and other strategic transactions, helping clients raise capital, facilitating trading and risk management, and managing investments and wealth for institutions and individuals.

Goldman Sachs also provides consumer financial products and digital financial services.