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

The Goldman Sachs Group (NYSE:GS) had its price objective reduced by equities research analysts at Wells Fargo & Company from $720.00 to $680.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 24.02% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. UBS Group raised their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Citigroup decreased their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a report on Monday. Barclays boosted their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $690.00 to $660.00 in a report on Thursday, February 27th. Finally, Morgan Stanley cut their price objective on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $590.60.

The Goldman Sachs Group Stock Down 1.9 %

Shares of NYSE GS traded down $10.64 on Friday, hitting $548.28. The company had a trading volume of 281,815 shares, compared to its average volume of 2,233,858. The Goldman Sachs Group has a 12-month low of $387.12 and a 12-month high of $672.19. 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 firm has a market capitalization of $171.09 billion, a P/E ratio of 13.53, a PEG ratio of 0.89 and a beta of 1.37. The business has a 50 day moving average of $609.83 and a two-hundred day moving average of $570.55.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the company earned $5.48 earnings per share. As a group, equities research analysts forecast that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Alex S. Golten sold 5,208 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the transaction, the insider now owns 3,545 shares of the company’s stock, valued at $2,255,506.25. This represents a 59.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of the firm’s 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 transaction, the chief accounting officer now owns 6,455 shares of the company’s stock, valued at approximately $4,047,349.55. This represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock worth $12,630,683 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in The Goldman Sachs Group by 2.5% in the fourth 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 acquiring an additional 161,500 shares during the period. Fisher Asset Management LLC grew its holdings 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 purchasing an additional 112,696 shares during the last quarter. FMR LLC increased its position in shares of The Goldman Sachs Group by 23.7% during the 4th quarter. FMR LLC now owns 3,586,348 shares of the investment management company’s stock worth $2,053,614,000 after purchasing an additional 687,711 shares in the last quarter. Northern Trust Corp increased its holdings 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 worth $1,885,454,000 after buying an additional 428,502 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of The Goldman Sachs Group by 8.3% in the fourth quarter. Invesco Ltd. now owns 3,010,583 shares of the investment management company’s stock valued at $1,723,920,000 after acquiring an additional 229,673 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

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.