Seaport Res Ptn Downgrades The Goldman Sachs Group (NYSE:GS) to Hold

The Goldman Sachs Group (NYSE:GS) was downgraded by analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q3 2024 earnings at $8.47 EPS, Q4 2024 earnings at $7.61 EPS, FY2024 earnings at $36.20 EPS, Q1 2025 earnings at $11.56 EPS, Q3 2025 earnings at $9.68 EPS, Q4 2025 earnings at $8.60 EPS and FY2025 earnings at $39.50 EPS.

GS has been the topic of a number of other reports. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. BMO Capital Markets raised their target price on The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $450.00 to $504.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Finally, Oppenheimer raised their target price on The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $445.62.

The Goldman Sachs Group Stock Up 0.5 %

GS stock opened at $467.85 on Tuesday. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $471.48. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $150.86 billion, a P/E ratio of 18.25, a PEG ratio of 0.91 and a beta of 1.37. The firm has a 50 day simple moving average of $451.62 and a 200-day simple moving average of $412.29.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.79 earnings per share. On average, equities research analysts predict that The Goldman Sachs Group will post 36.49 earnings per share for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In related news, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The sale was disclosed in a document filed with the SEC, which is available at this link. In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group in the first quarter valued at $1,903,374,000. Norges Bank acquired a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $1,120,119,000. Wellington Management Group LLP raised its stake in shares of The Goldman Sachs Group by 27.0% in the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after purchasing an additional 464,954 shares in the last quarter. Morgan Stanley raised its stake in shares of The Goldman Sachs Group by 7.8% in the third quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after purchasing an additional 412,383 shares in the last quarter. Finally, Verity & Verity LLC raised its stake in shares of The Goldman Sachs Group by 26,378.2% in the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock valued at $170,000 after purchasing an additional 406,224 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

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.