Goldman Sachs Group (NYSE:GS) Upgraded to Hold by Vertical Group

Goldman Sachs Group (NYSE:GS) was upgraded by analysts at Vertical Group from a “sell” rating to a “hold” rating in a research note issued on Friday, December 8th, The Fly reports.

A number of other brokerages have also issued reports on GS. Credit Suisse Group lowered Goldman Sachs Group from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $240.00 to $255.00 in a research report on Monday, October 9th. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “hold” rating and set a $240.00 price target on shares of Goldman Sachs Group in a research report on Thursday, August 31st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $240.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, October 19th. BMO Capital Markets boosted their price objective on Goldman Sachs Group from $202.00 to $217.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research downgraded Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $250.24.

Shares of Goldman Sachs Group (NYSE GS) traded up $255.67 on Friday, hitting $255.67. The stock had a trading volume of 2,256,200 shares, compared to its average volume of 2,750,000. Goldman Sachs Group has a one year low of $209.62 and a one year high of $262.14. The firm has a market cap of $96,440.00, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.11 and a beta of 1.46. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.82.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. The business had revenue of $8.33 billion during the quarter, compared to analyst estimates of $7.59 billion. During the same quarter in the previous year, the firm posted $4.88 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. sell-side analysts forecast that Goldman Sachs Group will post 19.08 EPS for the current year.

In related news, Vice Chairman Richard J. Gnodde sold 4,951 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $239.95, for a total transaction of $1,187,992.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David A. Viniar sold 7,393 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $245.18, for a total value of $1,812,615.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,177 shares of company stock valued at $32,435,160. 2.57% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of GS. BlackRock Inc. raised its holdings in shares of Goldman Sachs Group by 3,301.2% in the 1st quarter. BlackRock Inc. now owns 24,569,536 shares of the investment management company’s stock worth $5,644,114,000 after buying an additional 23,847,154 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Goldman Sachs Group by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 24,072,777 shares of the investment management company’s stock worth $5,341,749,000 after buying an additional 304,400 shares in the last quarter. State Street Corp raised its holdings in shares of Goldman Sachs Group by 2.7% in the 1st quarter. State Street Corp now owns 22,851,344 shares of the investment management company’s stock worth $5,249,408,000 after buying an additional 603,165 shares in the last quarter. Capital World Investors raised its holdings in shares of 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 in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Goldman Sachs Group by 4.0% in the 2nd quarter. Capital Research Global Investors now owns 6,918,409 shares of the investment management company’s stock worth $1,535,195,000 after buying an additional 265,784 shares in the last quarter. 73.27% of the stock is owned by hedge funds and other institutional investors.

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About Goldman Sachs Group

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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