Citigroup Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price objective cut by equities research analysts at Citigroup from $585.00 to $550.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. Citigroup’s price target would suggest a potential downside of 6.17% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of The Goldman Sachs Group in a research report on Friday, February 28th. UBS Group increased their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Finally, Oppenheimer lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $593.27.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $586.16 on Monday. The Goldman Sachs Group has a one year low of $387.12 and a one year high of $672.19. The company has a 50-day simple moving average of $611.53 and a two-hundred day simple moving average of $570.61. 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 firm has a market capitalization of $182.90 billion, a PE ratio of 14.46, a price-to-earnings-growth 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 firm’s revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.48 earnings per share. On average, analysts anticipate that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director Kevin R. Johnson acquired 2,400 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was purchased at an average price 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 in the company, valued at approximately $1,485,648. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total value of $4,758,905.62. Following the completion of the transaction, the insider now directly owns 9,589 shares in the company, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,925 shares of company stock valued at $12,630,683. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

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