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 research firms have also recently weighed in on GS. Hsbc Global Res cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Citigroup lifted their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $690.00 to $660.00 in a report on Thursday, February 27th. Barclays lifted their price objective on 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, HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $569.00 to $608.00 in a report on Tuesday, November 26th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $594.27.

The Goldman Sachs Group Price Performance

Shares of GS opened at $551.86 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group has a 1 year low of $383.71 and a 1 year high of $672.19. The stock has a market cap of $172.20 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. The stock’s 50-day moving average price is $611.58 and its two-hundred day moving average price is $567.82.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. During the same quarter last year, the business earned $5.48 earnings per share. The company’s revenue was up 22.5% compared to the same quarter last year. On average, equities analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Treasurer Carey Halio sold 1,545 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the completion of the sale, the treasurer now directly owns 8,192 shares in the company, valued at approximately $5,117,296.64. The trade was a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin R. Johnson purchased 2,400 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $619.02 per share, with a total value of $1,485,648.00. Following the completion of the transaction, the director now owns 2,400 shares of the company’s stock, valued at $1,485,648. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 19,925 shares of company stock worth $12,630,683 over the last three months. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stephens Consulting LLC acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Asset Planning Inc bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $29,000. Curio Wealth LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $30,000. Transce3nd LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Finally, Whipplewood Advisors LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $34,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.