The Goldman Sachs Group (NYSE:GS) Cut to “Hold” at Seaport Res Ptn

The Goldman Sachs Group (NYSE:GS) was downgraded by analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q3 2024 earnings at $8.47 EPS, Q4 2024 earnings at $7.61 EPS, FY2024 earnings at $36.20 EPS, Q1 2025 earnings at $11.56 EPS, Q3 2025 earnings at $9.68 EPS, Q4 2025 earnings at $8.60 EPS and FY2025 earnings at $39.50 EPS.

Several other equities analysts have also recently weighed in on GS. JMP Securities increased their price target on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. HSBC raised their target price on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Bank of America raised their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada raised their target price on 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. Finally, Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $443.78.

The Goldman Sachs Group Stock Up 0.4 %

GS stock opened at $465.74 on Tuesday. The Goldman Sachs Group has a fifty-two week low of $289.36 and a fifty-two week high of $471.48. The business’s 50 day moving average price is $450.78 and its two-hundred day moving average price is $411.69. 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 company has a market capitalization of $150.18 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly 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 the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.79 EPS. As a group, analysts forecast that The Goldman Sachs Group will post 36.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the firm’s 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 sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 that occurred on 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 sale, 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. 0.57% of the stock is owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Several institutional investors have recently bought and sold shares of GS. International Assets Investment Management LLC purchased a new position in The Goldman Sachs Group during the first quarter valued at approximately $1,903,374,000. Norges Bank purchased a new position in The Goldman Sachs Group in the fourth quarter worth $1,120,119,000. Wellington Management Group LLP grew its holdings in The Goldman Sachs Group by 27.0% in the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after purchasing an additional 464,954 shares during the last quarter. Morgan Stanley grew its holdings in The Goldman Sachs Group by 7.8% in the third quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock worth $1,842,192,000 after purchasing an additional 412,383 shares during the last quarter. Finally, Verity & Verity LLC grew its holdings in The Goldman Sachs Group by 26,378.2% in the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after purchasing an additional 406,224 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

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.