The Goldman Sachs Group (NYSE:GS) Rating Lowered to “Hold” at Wall Street Zen

The Goldman Sachs Group (NYSE:GS) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently commented on GS. Loop Capital set a $1,050.00 target price on The Goldman Sachs Group in a research note on Thursday, October 8th. Citigroup reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 14th. Barclays raised their price target on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. UBS Group reduced their price target on The Goldman Sachs Group from $1,010.00 to $1,000.00 and set a “neutral” rating for the company in a report on Monday, November 2nd. Finally, Wells Fargo & Company lowered their price target on The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating for the company in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $1,052.04.

The Goldman Sachs Group Trading Up 0.0%

NYSE GS opened at $865.88 on Friday. 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 current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 3.20. The company has a market capitalization of $249.75 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.81 and a beta of 1.29. The firm’s fifty day simple moving average is $932.40 and its 200-day simple moving average is $956.58.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.86 by $4.15. The business 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 quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $12.25 earnings per share. As a group, sell-side analysts anticipate that The Goldman Sachs Group will post 71.49 earnings per share for the current fiscal year.

Insider Activity

In other The Goldman Sachs Group news, CEO David Solomon sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $910.72, for a total value of $10,928,640.00. Following the completion of the sale, the chief executive officer owned 159,180 shares of the company’s stock, valued at $144,968,409.60. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ericka Leslie sold 250 shares of the business’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $890.25, for a total value of $222,562.50. Following the completion of the sale, the insider directly owned 10,710 shares of the company’s stock, valued at $9,534,577.50. This represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 12,500 shares of company stock worth $11,380,508. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC bought a new position in The Goldman Sachs Group in the 2nd quarter valued at about $53,720,000. IPG Investment Advisors LLC grew its holdings in The Goldman Sachs Group by 21.3% during the second quarter. IPG Investment Advisors LLC now owns 7,250 shares of the investment management company’s stock worth $7,332,000 after buying an additional 1,272 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in The Goldman Sachs Group by 14.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,422 shares of the investment management company’s stock valued at $17,606,000 after buying an additional 2,230 shares during the last quarter. Sax Wealth Advisors LLC raised its position in The Goldman Sachs Group by 148.7% in the 2nd quarter. Sax Wealth Advisors LLC now owns 3,529 shares of the investment management company’s stock valued at $3,569,000 after buying an additional 2,110 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in The Goldman Sachs Group by 5.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 97,699 shares of the investment management company’s stock valued at $98,810,000 after acquiring an additional 4,811 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Key The Goldman Sachs Group News

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.