Goldman Sachs Group (NYSE:GS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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. 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. Further, cost control measures are commendable. Additionally, steady capital deployment activities have boosted investors' confidence.”

A number of other equities analysts have also recently issued reports on GS. Buckingham Research reiterated a “neutral” rating and issued a $250.00 price objective (up from $243.00) on shares of Goldman Sachs Group in a report on Wednesday, October 18th. Wells Fargo & Company reiterated an “outperform” rating and issued a $295.00 price objective (up from $265.00) on shares of Goldman Sachs Group in a report on Wednesday. Bank of America increased their target price on Goldman Sachs Group from $290.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Citigroup restated a “neutral” rating and set a $250.00 target price (up from $225.00) on shares of Goldman Sachs Group in a report on Monday, October 9th. Finally, TheStreet cut Goldman Sachs Group from a “b” rating to a “c+” rating in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $248.10.

Goldman Sachs Group (GS) traded down $3.54 on Wednesday, hitting $256.48. The stock had a trading volume of 2,195,500 shares, compared to its average volume of 3,274,240. Goldman Sachs Group has a 1 year low of $209.62 and a 1 year high of $262.00. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $96,740.00, a PE ratio of 13.54, a P/E/G ratio of 1.32 and a beta of 1.46.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $8.33 billion during the quarter, compared to analysts’ expectations of $7.59 billion. During the same period in the prior year, the business earned $4.88 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. research analysts expect that Goldman Sachs Group will post 19.03 EPS for the current fiscal year.

In other news, Director David A. Viniar sold 7,393 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $245.18, for a total value of $1,812,615.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Solomon sold 12,707 shares of the stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $237.94, for a total value of $3,023,503.58. The disclosure for this sale can be found here. Insiders have sold a total of 135,177 shares of company stock valued at $32,435,160 in the last ninety days. 2.57% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in GS. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Goldman Sachs Group in the 2nd quarter worth approximately $101,000. Sterling Investment Advisors Ltd. raised its position in shares of Goldman Sachs Group by 35.7% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock worth $105,000 after acquiring an additional 125 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Goldman Sachs Group in the 2nd quarter worth approximately $111,000. Gs Investments Inc. bought a new position in shares of Goldman Sachs Group in the 2nd quarter worth approximately $111,000. Finally, First Personal Financial Services raised its position in shares of Goldman Sachs Group by 230.2% in the 2nd quarter. First Personal Financial Services now owns 525 shares of the investment management company’s stock worth $116,000 after acquiring an additional 366 shares in the last quarter. 73.27% of the stock is owned by hedge funds and other institutional investors.

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Goldman Sachs Group 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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