Goldman Sachs Group (NYSE:GS) Price Target Cut to $221.00 by Analysts at BMO Capital Markets

Goldman Sachs Group (NYSE:GS) had its price objective lowered by equities researchers at BMO Capital Markets to $221.00 in a note issued to investors on Thursday, January 18th. The brokerage presently has a “market perform” rating on the investment management company’s stock. BMO Capital Markets’ price target would suggest a potential downside of 11.35% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a research note on Friday, October 20th. Vertical Group raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Bank of America increased their target price on shares of Goldman Sachs Group from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Buckingham Research restated a “neutral” rating and set a $250.00 price target (up from $243.00) on shares of Goldman Sachs Group in a report on Wednesday, October 18th. Finally, Barclays increased their price target on Goldman Sachs Group from $262.00 to $308.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $256.75.

Goldman Sachs Group (NYSE:GS) traded up $2.95 on Thursday, reaching $249.30. 5,965,301 shares of the company traded hands, compared to its average volume of 4,040,000. Goldman Sachs Group has a 1-year low of $209.62 and a 1-year high of $273.79. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $94,040.00, a PE ratio of 28.75, a price-to-earnings-growth ratio of 0.90 and a beta of 1.37.

Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, January 17th. The investment management company reported $5.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.90 by $0.78. The firm had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.64 billion. Goldman Sachs Group had a return on equity of 11.47% and a net margin of 13.36%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.08 earnings per share. sell-side analysts anticipate that Goldman Sachs Group will post 21.56 EPS for the current fiscal year.

In other Goldman Sachs Group news, Chairman Lloyd C. Blankfein sold 20,794 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $238.38, for a total value of $4,956,873.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Solomon sold 2,400 shares of Goldman Sachs Group stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $238.49, for a total value of $572,376.00. The disclosure for this sale can be found here. In the last three months, insiders sold 170,243 shares of company stock valued at $42,427,803. 2.57% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of GS. Janus Henderson Group PLC boosted its position in shares of Goldman Sachs Group by 4,096.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock valued at $549,415,000 after acquiring an additional 2,416,970 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Goldman Sachs Group by 47.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock worth $799,472,000 after buying an additional 1,152,869 shares during the last quarter. Balyasny Asset Management LLC lifted its position in Goldman Sachs Group by 1,654.0% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,034,680 shares of the investment management company’s stock worth $229,595,000 after buying an additional 975,690 shares during the last quarter. Jennison Associates LLC lifted its position in Goldman Sachs Group by 15.1% in the 4th quarter. Jennison Associates LLC now owns 5,538,407 shares of the investment management company’s stock worth $1,410,965,000 after buying an additional 727,698 shares during the last quarter. Finally, Capital World Investors lifted its position in Goldman Sachs Group by 10.5% in the 2nd quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock worth $1,697,442,000 after buying an additional 726,582 shares during the last quarter. Hedge funds and other institutional investors own 73.52% of the company’s stock.

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Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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