Citigroup Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price objective reduced by Citigroup from $585.00 to $550.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the investment management company’s stock.

GS has been the subject of a number of other research reports. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their target price for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. UBS Group lifted their price objective on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Tuesday, January 21st. Wells Fargo & Company restated an “overweight” rating on shares of The Goldman Sachs Group in a research note on Friday, February 28th. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Oppenheimer downgraded The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $593.27.

The Goldman Sachs Group Trading Down 2.1 %

NYSE GS opened at $573.37 on Monday. The firm has a market capitalization of $178.91 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.89 and a beta of 1.37. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group has a one year low of $387.12 and a one year high of $672.19. The company’s 50 day moving average price is $610.88 and its 200 day moving average price is $570.63.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The business had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter last year, the firm posted $5.48 EPS. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, sell-side analysts predict that The Goldman Sachs Group will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 29.59%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,498 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total value of $4,758,905.62. Following the sale, the insider now directly owns 9,589 shares in the company, valued at approximately $6,086,042.41. This trade represents a 43.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the completion of the sale, the chief accounting officer now directly owns 6,455 shares in the company, valued at approximately $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 a total of 19,925 shares of company stock worth $12,630,683 over the last quarter. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in The Goldman Sachs Group by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company’s stock valued at $3,761,576,000 after buying an additional 161,500 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of The Goldman Sachs Group by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company’s stock worth $3,524,669,000 after acquiring an additional 112,696 shares during the period. FMR LLC boosted its holdings in shares of The Goldman Sachs Group by 23.7% in the fourth quarter. FMR LLC now owns 3,586,348 shares of the investment management company’s stock valued at $2,053,614,000 after acquiring an additional 687,711 shares in the last quarter. Northern Trust Corp increased its stake in shares of The Goldman Sachs Group by 15.0% during the fourth quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company’s stock valued at $1,885,454,000 after acquiring an additional 428,502 shares during the period. Finally, Invesco Ltd. raised its holdings in The Goldman Sachs Group by 8.3% during the fourth quarter. Invesco Ltd. now owns 3,010,583 shares of the investment management company’s stock worth $1,723,920,000 after purchasing an additional 229,673 shares in 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.