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

The Goldman Sachs Group (NYSE:GS) was downgraded by analysts at HSBC from a “buy” rating to a “hold” rating in a report released on Tuesday,Briefing.com Automated Import reports. They presently have a $608.00 price objective on the investment management company’s stock, up from their prior price objective of $569.00. HSBC’s price target would suggest a potential upside of 0.82% from the company’s current price.

Other research analysts also recently issued reports about the stock. JMP Securities upped their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Bank of America increased their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Citigroup increased 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 report on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $550.63.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $603.03 on Tuesday. The Goldman Sachs Group has a 52-week low of $334.87 and a 52-week high of $611.30. The firm has a fifty day moving average of $531.87 and a 200-day moving average of $495.51. The firm has a market capitalization of $189.30 billion, a P/E ratio of 17.69, a PEG ratio of 0.88 and a beta of 1.35. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.47 earnings per share. As a group, analysts predict that The Goldman Sachs Group will post 37.15 EPS for the current year.

Insider Activity

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,390 shares of company stock worth $6,656,119. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its holdings in shares of The Goldman Sachs Group by 30,068.9% during 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 period. AMF Tjanstepension AB raised its position in The Goldman Sachs Group by 1,102.4% during the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after acquiring an additional 743,402 shares in the last quarter. FMR LLC raised its position in The Goldman Sachs Group by 21.9% during 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 acquiring an additional 521,054 shares in the last quarter. 1832 Asset Management L.P. raised its position in The Goldman Sachs Group by 7,932.6% during the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after acquiring an additional 438,754 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock valued at $179,608,000 after acquiring an additional 356,512 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.