The Goldman Sachs Group (NYSE:GS) Lowered to Hold Rating by HSBC

The Goldman Sachs Group (NYSE:GS) was downgraded by HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat.com reports. They presently have a $608.00 price target on the investment management company’s stock, up from their prior price target of $569.00. HSBC’s price objective points to a potential upside of 0.43% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Evercore ISI raised their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. UBS Group raised their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $550.63.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $605.42 on Tuesday. The business’s 50-day moving average price is $536.69 and its 200-day moving average price is $497.33. The Goldman Sachs Group has a 12 month low of $334.87 and a 12 month high of $612.25. The firm has a market capitalization of $190.05 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.88 and a beta of 1.35. 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 (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period last year, the company earned $5.47 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that The Goldman Sachs Group will post 37.15 EPS for the current year.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,390 shares of company stock valued at $6,656,119 over the last 90 days. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mizuho Securities USA LLC boosted its position in The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after purchasing an additional 7,475,140 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 2.7% in the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after buying an additional 161,133 shares during the period. FMR LLC raised its stake in shares of The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after buying an additional 521,054 shares during the period. Legal & General Group Plc raised its stake in shares of The Goldman Sachs Group by 2.9% in the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after buying an additional 77,700 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of The Goldman Sachs Group by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after buying an additional 68,141 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.