Morgan Stanley Lowers The Goldman Sachs Group (NYSE:GS) Price Target to $475.00

The Goldman Sachs Group (NYSE:GS) had its price objective cut by analysts at Morgan Stanley from $486.00 to $475.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the investment management company’s stock. Morgan Stanley’s target price would indicate a potential upside of 5.01% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. JMP Securities increased their target price on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods increased their target price on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada increased their target price on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 16th. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Finally, Argus upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective on the stock in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $443.78.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $452.32 on Thursday. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $471.48. The stock has a market cap of $145.86 billion, a PE ratio of 17.66, a PEG ratio of 0.92 and a beta of 1.39. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50 day moving average price is $449.86 and its two-hundred day moving average price is $410.39.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, topping the consensus estimate of $8.54 by $3.04. The company had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $8.79 earnings per share. As a group, analysts forecast that The Goldman Sachs Group will post 36.59 EPS for the current year.

Insider Activity

In other news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SRN Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 17.4% during the 1st quarter. SRN Advisors LLC now owns 3,022 shares of the investment management company’s stock worth $1,262,000 after buying an additional 448 shares during the period. Cypress Asset Management Inc. TX boosted its holdings in shares of The Goldman Sachs Group by 0.7% during the 1st quarter. Cypress Asset Management Inc. TX now owns 5,836 shares of the investment management company’s stock worth $2,438,000 after buying an additional 40 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of The Goldman Sachs Group by 1.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,419 shares of the investment management company’s stock worth $1,886,000 after buying an additional 74 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of The Goldman Sachs Group by 2.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 189,710 shares of the investment management company’s stock worth $78,753,000 after buying an additional 4,937 shares during the period. Finally, Tactive Advisors LLC acquired a new stake in The Goldman Sachs Group in the 1st quarter worth about $218,000. Institutional investors 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.