Goldman Sachs Group, Inc. (The) (NYSE:GS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.

According to Zacks, “Shares of Goldman underperformed the industry over the past six months. Yet, the company boasts an impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Goldman’s third-quarter 2017 results surpassed the Zacks Consensus Estimate. Results reflected higher revenues on continued momentum in investment banking business, partially offset by lower fixed-income trading activities and elevated expenses. Though several issues, including sluggish global economic growth and lower client activity levels, remain near-to-medium-term headwinds, we believe the company’s well-diversified business and its focus to capitalize on growth opportunities through strategic moves should continue to bolster the overall business.”

A number of other equities research analysts have also recently weighed in on the company. BidaskClub cut Goldman Sachs Group, Inc. (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada restated a “hold” rating and issued a $240.00 price target on shares of Goldman Sachs Group, Inc. (The) in a research note on Thursday, August 31st. Capital One Financial Corporation restated a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research note on Tuesday, July 11th. JMP Securities reaffirmed a “market perform” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Wednesday, September 13th. Finally, J P Morgan Chase & Co set a $260.00 price objective on Goldman Sachs Group, Inc. (The) and gave the company a “buy” rating in a report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Goldman Sachs Group, Inc. (The) currently has a consensus rating of “Hold” and a consensus target price of $244.98.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, beating analysts’ consensus estimates of $4.17 by $0.85. Goldman Sachs Group, Inc. (The) had a return on equity of 11.32% and a net margin of 26.42%. The business had revenue of $8.33 billion for the quarter, compared to analysts’ expectations of $7.59 billion. During the same quarter in the prior year, the business earned $4.88 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis.

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In other Goldman Sachs Group, Inc. (The) news, insider David M. Solomon sold 3,260 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $231.59, for a total value of $754,983.40. Following the completion of the transaction, the insider now directly owns 177,594 shares in the company, valued at $41,128,994.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Viniar sold 7,393 shares of the stock in a transaction dated Friday, October 20th. The shares were 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. Insiders sold 58,289 shares of company stock valued at $14,036,920 over the last quarter. Corporate insiders own 2.57% of the company’s stock.

A number of institutional investors have recently bought and sold shares of GS. BlackRock Inc. raised its position in Goldman Sachs Group, Inc. (The) by 3,301.2% in the first quarter. BlackRock Inc. now owns 24,569,536 shares of the investment management company’s stock valued at $5,644,114,000 after purchasing an additional 23,847,154 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Goldman Sachs Group, Inc. (The) by 4,096.0% during the second quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock worth $549,415,000 after acquiring an additional 2,416,970 shares during the last quarter. New England Asset Management Inc. raised its position in shares of Goldman Sachs Group, Inc. (The) by 440.8% during the first quarter. New England Asset Management Inc. now owns 2,331,063 shares of the investment management company’s stock worth $535,492,000 after acquiring an additional 1,900,000 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Goldman Sachs Group, Inc. (The) by 84.4% during the first quarter. Alliancebernstein L.P. now owns 3,221,215 shares of the investment management company’s stock worth $739,978,000 after acquiring an additional 1,474,433 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Goldman Sachs Group, Inc. (The) by 47.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock worth $799,472,000 after acquiring an additional 1,152,869 shares during the last quarter. Hedge funds and other institutional investors own 73.21% of the company’s stock.

Goldman Sachs Group, Inc. (The) Company Profile

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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Analyst Recommendations for Goldman Sachs Group, Inc. (The) (NYSE:GS)

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