Wells Fargo & Company Has Lowered Expectations for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its target price decreased by investment analysts at Wells Fargo & Company from $680.00 to $650.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The firm currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 30.09% from the stock’s previous close.

GS has been the topic of a number of other research reports. Barclays lowered their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating on the stock in a research report on Tuesday. Daiwa America cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. JPMorgan Chase & Co. cut 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. Citigroup dropped their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $593.40.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $499.65 on Tuesday. The company has a market cap of $155.91 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 0.89 and a beta of 1.33. The business’s fifty day simple moving average is $567.52 and its two-hundred day simple moving average is $572.00. The Goldman Sachs Group has a 12 month low of $401.18 and a 12 month high of $672.19. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, beating the consensus estimate of $12.57 by $1.55. The company had revenue of $15.06 billion for the quarter, compared to analysts’ expectations of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. During the same period last year, the firm posted $11.58 earnings per share. Research analysts anticipate that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kevin R. Johnson purchased 2,400 shares of The Goldman Sachs Group stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $619.02 per share, for a total transaction of $1,485,648.00. Following the acquisition, the director now owns 2,400 shares in the company, valued at approximately $1,485,648. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the transaction, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at $4,047,349.55. This trade represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,925 shares of company stock worth $12,630,683 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. raised its holdings in shares of The Goldman Sachs Group by 10.9% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock worth $93,000 after acquiring an additional 16 shares in the last quarter. Ledyard National Bank raised its stake in The Goldman Sachs Group by 3.4% during the fourth quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock valued at $278,000 after purchasing an additional 16 shares in the last quarter. Seelaus Asset Management LLC lifted its position in The Goldman Sachs Group by 2.5% during the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 16 shares during the last quarter. Pointe Capital Management LLC grew its stake in shares of The Goldman Sachs Group by 1.0% in the 4th quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock worth $951,000 after buying an additional 16 shares in the last quarter. Finally, Genesee Capital Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 1.0% in the 4th quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock worth $1,024,000 after buying an additional 17 shares during the last quarter. 71.21% of the stock is owned by 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.