Royal Bank of Canada Has Lowered Expectations for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its price objective dropped by equities researchers at Royal Bank of Canada from $610.00 to $560.00 in a report released on Tuesday, MarketBeat Ratings reports. The brokerage currently has a “sector perform” rating on the investment management company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 12.08% from the company’s current price.

GS has been the subject of several other research reports. Morgan Stanley set a $558.00 price objective on shares of The Goldman Sachs Group and gave the company an “equal weight” rating in a research note on Monday, April 7th. Evercore ISI decreased their price target on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. JMP Securities lowered their price objective on The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Finally, Daiwa America cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $593.40.

The Goldman Sachs Group Stock Down 1.6 %

The Goldman Sachs Group stock opened at $499.65 on Tuesday. The firm has a 50 day simple moving average of $567.52 and a 200 day simple moving average of $572.00. 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 has a 1-year low of $401.18 and a 1-year high of $672.19. The firm has a market capitalization 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 Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same period in the previous year, the company posted $11.58 EPS. On average, analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insider Activity

In other news, Director Kevin R. Johnson acquired 2,400 shares of the stock in a transaction dated Friday, January 17th. The stock was purchased at an average cost of $619.02 per share, with a total value of $1,485,648.00. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,925 shares of company stock valued at $12,630,683. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stephens Consulting LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group during the 4th quarter valued at $29,000. Curio Wealth LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth $30,000. Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group in the 4th quarter worth about $31,000. Finally, Transce3nd LLC bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $31,000. Institutional investors own 71.21% of the company’s stock.

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.