The Goldman Sachs Group (NYSE:GS) Rating Reiterated by Royal Bank of Canada

The Goldman Sachs Group (NYSE:GS)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a research note issued on Wednesday, Benzinga reports. They currently have a $390.00 price objective on the investment management company’s stock. Royal Bank of Canada’s price objective indicates a potential downside of 6.63% from the company’s previous close.

Several other research firms also recently commented on GS. UBS Group increased their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. JMP Securities reiterated a “market outperform” rating and issued a $440.00 target price on shares of The Goldman Sachs Group in a research report on Wednesday, January 17th. Edward Jones initiated coverage on The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. BMO Capital Markets increased their target price on The Goldman Sachs Group from $357.00 to $360.00 and gave the company a “market perform” rating in a research report on Thursday, January 18th. Finally, Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $333.00 to $449.00 in a research report on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $411.10.

The Goldman Sachs Group Stock Performance

GS opened at $417.69 on Wednesday. The firm has a market cap of $135.55 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.56 and a beta of 1.42. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $419.20. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.76 and a current ratio of 0.76. The business’s fifty day moving average is $388.58 and its 200-day moving average is $357.54.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, January 16th. The investment management company reported $5.48 earnings per share for the quarter, beating the consensus estimate of $3.62 by $1.86. The business had revenue of $11.32 billion for the quarter, compared to analyst estimates of $10.80 billion. The Goldman Sachs Group had a return on equity of 8.03% and a net margin of 7.85%. The Goldman Sachs Group’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $3.32 earnings per share. Sell-side analysts expect that The Goldman Sachs Group will post 33.13 EPS for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 3,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total transaction of $1,129,170.00. Following the transaction, the insider now owns 10,121 shares of the company’s stock, valued at $3,809,443.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian J. Lee sold 3,000 shares of The Goldman Sachs Group stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $376.39, for a total value of $1,129,170.00. Following the sale, the insider now owns 10,121 shares in the company, valued at $3,809,443.19. The disclosure for this sale can be found here. Insiders have sold a total of 38,907 shares of company stock valued at $15,080,021 over the last 90 days. Insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in shares of The Goldman Sachs Group by 0.4% in the second quarter. State Street Corp now owns 19,822,469 shares of the investment management company’s stock valued at $6,393,539,000 after buying an additional 76,641 shares during the period. Capital World Investors raised its stake in shares of The Goldman Sachs Group by 6.0% during the 4th quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock valued at $2,319,470,000 after purchasing an additional 338,181 shares during the period. Morgan Stanley raised its stake in shares of The Goldman Sachs Group by 40.0% during the 4th quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after purchasing an additional 1,696,350 shares during the period. Fisher Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock valued at $2,128,693,000 after purchasing an additional 152,474 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of The Goldman Sachs Group by 0.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock valued at $2,004,153,000 after purchasing an additional 27,524 shares during the period. 71.21% of the stock is currently owned by institutional investors.

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.