JPMorgan Chase & Co. Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price target reduced by JPMorgan Chase & Co. from $625.00 to $614.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 8.82% from the company’s previous close.

A number of other analysts have also weighed in on GS. Wells Fargo & Company reduced their price objective on shares of The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. Evercore ISI decreased their price target on The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating for the company in a research note on Tuesday. Barclays boosted 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. UBS Group boosted their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Finally, Citigroup reduced their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $591.13.

The Goldman Sachs Group Trading Up 2.9 %

Shares of NYSE GS opened at $564.24 on Thursday. The Goldman Sachs Group has a 1-year low of $387.12 and a 1-year high of $672.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The business’s 50 day moving average is $603.45 and its two-hundred day moving average is $573.30. The stock has a market capitalization of $176.06 billion, a P/E ratio of 13.91, a PEG ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74. The company had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The Goldman Sachs Group’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.48 EPS. As a group, research analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insider Buying and Selling

In related news, Director Kevin R. Johnson acquired 2,400 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $619.02 per share, with a total value of $1,485,648.00. Following the transaction, the director now directly owns 2,400 shares of the company’s stock, valued at $1,485,648. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total transaction of $965,115.15. Following the sale, the treasurer now directly owns 8,192 shares in the company, valued at approximately $5,117,296.64. This represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,925 shares of company stock worth $12,630,683 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in The Goldman Sachs Group by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company’s stock worth $3,761,576,000 after acquiring an additional 161,500 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of The Goldman Sachs Group by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company’s stock worth $3,524,669,000 after purchasing an additional 112,696 shares during the period. FMR LLC boosted its stake in shares of The Goldman Sachs Group by 23.7% in the fourth quarter. FMR LLC now owns 3,586,348 shares of the investment management company’s stock worth $2,053,614,000 after buying an additional 687,711 shares during the last quarter. Northern Trust Corp lifted its stake in shares of The Goldman Sachs Group by 15.0% in the 4th quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company’s stock valued at $1,885,454,000 after purchasing an additional 428,502 shares during the period. Finally, Invesco Ltd. grew its position in The Goldman Sachs Group by 8.3% during the fourth quarter. Invesco Ltd. now owns 3,010,583 shares of the investment management company’s stock valued at $1,723,920,000 after buying an additional 229,673 shares during the period. 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.