JPMorgan Chase & Co. Reaffirms “Neutral” Rating for The Goldman Sachs Group (NYSE:GS)

The Goldman Sachs Group (NYSE:GS)‘s stock had its “neutral” rating restated by research analysts at JPMorgan Chase & Co. in a research report issued on Tuesday, MarketBeat Ratings reports. They currently have a $750.00 price objective on the investment management company’s stock, up from their previous price objective of $625.00. JPMorgan Chase & Co.‘s price objective points to a potential upside of 0.78% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Evercore ISI upped their target price on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. BMO Capital Markets assumed coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $785.00 target price on the stock. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Barclays lifted their price target on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $779.50.

The Goldman Sachs Group Trading Down 2.0%

NYSE:GS opened at $744.18 on Tuesday. The Goldman Sachs Group has a 52 week low of $439.38 and a 52 week high of $825.25. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The firm’s fifty day moving average is $766.42 and its 200-day moving average is $674.65. The firm has a market cap of $225.28 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.39 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.27 by $1.98. The business had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The Goldman Sachs Group’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.40 earnings per share. Equities analysts expect that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insider Activity

In other news, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,707 shares of company stock worth $19,094,804. 0.55% of the stock is owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Large investors have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of The Goldman Sachs Group during the first quarter valued at about $25,000. Dogwood Wealth Management LLC increased its stake in The Goldman Sachs Group by 1,800.0% in the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $26,000. First PREMIER Bank bought a new position in shares of The Goldman Sachs Group during the 3rd quarter worth approximately $28,000. Finally, American Capital Advisory LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $29,000. 71.21% of the stock is currently 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.