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

The Goldman Sachs Group (NYSE:GS) was downgraded by stock 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 also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Oppenheimer raised their price objective on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley raised their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $550.63.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $605.42 on Tuesday. The firm has a 50-day moving average of $536.69 and a 200-day moving average of $497.33. The company has a market cap of $190.05 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.88 and a beta of 1.35. 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 Goldman Sachs Group has a one year low of $334.87 and a one year high of $612.25.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.47 earnings per share. Equities research analysts forecast that The Goldman Sachs Group will post 37.15 EPS for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock worth $6,656,119 over the last three months. 0.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. increased its position in The Goldman Sachs Group by 3.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,660,088 shares of the investment management company’s stock valued at $898,428,000 after purchasing an additional 62,246 shares during the period. Synovus Financial Corp increased its position in The Goldman Sachs Group by 4.7% during the 3rd quarter. Synovus Financial Corp now owns 15,998 shares of the investment management company’s stock valued at $7,920,000 after purchasing an additional 724 shares during the period. Tidal Investments LLC increased its position in The Goldman Sachs Group by 6.3% during the 3rd quarter. Tidal Investments LLC now owns 11,691 shares of the investment management company’s stock valued at $5,788,000 after purchasing an additional 688 shares during the period. Wilmington Savings Fund Society FSB increased its position in The Goldman Sachs Group by 18.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 8,563 shares of the investment management company’s stock valued at $4,240,000 after purchasing an additional 1,351 shares during the period. Finally, World Investment Advisors LLC increased its position in The Goldman Sachs Group by 15.2% during the 3rd quarter. World Investment Advisors LLC now owns 4,185 shares of the investment management company’s stock valued at $2,072,000 after purchasing an additional 552 shares during the period. 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.