Royal Bank of Canada Has Lowered Expectations for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its target price cut by equities research analysts at Royal Bank of Canada from $610.00 to $560.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the investment management company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 8.72% from the company’s current price.

Other equities analysts also recently issued reports about the company. JMP Securities decreased their target price on The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 8th. Daiwa Capital Markets cut shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a report on Friday, April 4th. Barclays cut their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Finally, Evercore ISI cut their target price on The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $585.38.

The Goldman Sachs Group Stock Up 2.2 %

Shares of GS traded up $11.13 during midday trading on Tuesday, hitting $515.11. The company had a trading volume of 819,537 shares, compared to its average volume of 2,396,822. The stock has a market cap of $160.73 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.89 and a beta of 1.33. The Goldman Sachs Group has a 52 week low of $395.18 and a 52 week high of $672.19. The company’s 50 day moving average price is $573.63 and its 200 day moving average price is $572.96. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same period in the prior year, the company posted $11.58 EPS. On average, equities research analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insider Transactions at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,034 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total value of $1,275,338.34. Following the completion of the sale, the chief accounting officer now owns 6,455 shares of the company’s stock, valued at approximately $4,047,349.55. The trade was a 23.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin R. Johnson acquired 2,400 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the transaction, the director now owns 2,400 shares of the company’s stock, valued at approximately $1,485,648. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold 19,925 shares of company stock valued at $12,630,683 over the last three months. 0.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock valued at $2,172,423,000 after acquiring an additional 3,970,467 shares during the period. Norges Bank bought a new position in The Goldman Sachs Group in the fourth quarter worth $1,603,315,000. Castlekeep Investment Advisors LLC bought a new stake in The Goldman Sachs Group in the 4th quarter valued at $944,334,000. Raymond James Financial Inc. acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $624,844,000. Finally, Proficio Capital Partners LLC increased its stake in The Goldman Sachs Group by 14,007.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company’s stock valued at $606,815,000 after acquiring an additional 1,052,204 shares during the period. Institutional investors own 71.21% of the company’s stock.

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.