The Goldman Sachs Group (NYSE:GS) Downgraded by Hsbc Global Res to Hold

The Goldman Sachs Group (NYSE:GS) was downgraded by investment analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the stock. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. HSBC downgraded shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their target price for the stock from $569.00 to $608.00 in a research note on Tuesday. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Citigroup increased their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Finally, UBS Group increased their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $550.63.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $605.22 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $189.98 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The company’s 50 day simple moving average is $534.27 and its 200-day simple moving average is $496.57. The Goldman Sachs Group has a 1 year low of $334.87 and a 1 year high of $611.30.

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

Insider Buying and Selling

In other news, CAO Sheara J. Fredman sold 2,974 shares of the company’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 sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares in the company, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock worth $6,656,119 in the last quarter. 0.57% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Semmax Financial Advisors Inc. purchased a new stake in shares of The Goldman Sachs Group during the second quarter worth approximately $26,000. POM Investment Strategies LLC acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth $26,000. Headlands Technologies LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $27,000. SJS Investment Consulting Inc. increased its stake in shares of The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares during the period. Finally, West Branch Capital LLC purchased a new position in The Goldman Sachs Group during the third quarter worth about $30,000. 71.21% of the stock is 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.