The Goldman Sachs Group (NYSE:GS) Downgraded to “Market Perform” Rating by Oppenheimer

The Goldman Sachs Group (NYSE:GS) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Wednesday,Finviz reports.

Several other brokerages have also recently weighed in on GS. Citigroup boosted their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. UBS Group boosted their price objective on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Barclays boosted their target price on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $594.27.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $551.86 on Wednesday. The firm’s fifty day moving average price is $611.58 and its two-hundred day moving average price is $567.82. The stock has a market cap of $172.20 billion, a PE ratio of 13.61, a PEG ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group has a fifty-two week low of $383.71 and a fifty-two week high of $672.19. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last posted 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 firm had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.48 earnings per share. On average, equities analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Insider Activity

In related news, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the sale, the treasurer now owns 8,192 shares in the company, valued at $5,117,296.64. This represents a 15.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the completion of the sale, the chief accounting officer now owns 6,455 shares in the company, valued at $4,047,349.55. This represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,925 shares of company stock worth $12,630,683. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Asset Management One Co. Ltd. grew its position in The Goldman Sachs Group by 2.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company’s stock worth $129,144,000 after purchasing an additional 5,541 shares in the last quarter. Erste Asset Management GmbH grew its position in The Goldman Sachs Group by 5.9% in the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company’s stock worth $3,309,000 after purchasing an additional 320 shares in the last quarter. Franklin Street Advisors Inc. NC grew its position in The Goldman Sachs Group by 8.1% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock worth $21,934,000 after purchasing an additional 2,863 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in The Goldman Sachs Group in the 4th quarter worth about $356,000. Finally, Park Edge Advisors LLC bought a new stake in The Goldman Sachs Group in the 4th quarter worth about $703,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

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.