BMO Capital Markets Trims Goldman Sachs Group (GS) Target Price to $221.00

Goldman Sachs Group (NYSE:GS) had its target price reduced by research analysts at BMO Capital Markets to $221.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has a “market perform” rating on the investment management company’s stock. BMO Capital Markets’ price objective points to a potential downside of 13.71% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Vertical Group upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Bank of America lifted their price objective on Goldman Sachs Group from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, December 7th. Wells Fargo & Co reiterated an “outperform” rating and set a $295.00 price objective (up previously from $265.00) on shares of Goldman Sachs Group in a research note on Wednesday, December 20th. Morgan Stanley lifted their price objective on Goldman Sachs Group from $265.00 to $287.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $240.00 price objective on shares of Goldman Sachs Group in a research note on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $254.67.

Goldman Sachs Group (NYSE:GS) traded up $5.15 during midday trading on Thursday, hitting $256.12. The company’s stock had a trading volume of 4,640,000 shares, compared to its average volume of 3,000,000. The stock has a market cap of $96,610.00, a price-to-earnings ratio of 29.54, a P/E/G ratio of 0.93 and a beta of 1.47. Goldman Sachs Group has a twelve month low of $209.62 and a twelve month high of $262.14. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, January 17th. The investment management company reported $5.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.90 by $0.78. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.64 billion. Goldman Sachs Group had a return on equity of 11.47% and a net margin of 13.36%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $5.08 EPS. sell-side analysts expect that Goldman Sachs Group will post 21.42 earnings per share for the current year.

In related news, insider David M. Solomon sold 2,400 shares of Goldman Sachs Group stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $238.49, for a total value of $572,376.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory K. Palm sold 4,620 shares of Goldman Sachs Group stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $238.99, for a total value of $1,104,133.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,833 shares of company stock valued at $23,309,552. 2.57% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of GS. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Goldman Sachs Group during the 2nd quarter worth approximately $101,000. Sterling Investment Advisors Ltd. boosted its holdings in shares of Goldman Sachs Group by 35.7% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock worth $105,000 after purchasing an additional 125 shares during the last quarter. Gs Investments Inc. acquired a new position in shares of Goldman Sachs Group during the 2nd quarter worth approximately $111,000. First Personal Financial Services boosted its holdings in shares of Goldman Sachs Group by 230.2% during the 2nd quarter. First Personal Financial Services now owns 525 shares of the investment management company’s stock worth $116,000 after purchasing an additional 366 shares during the last quarter. Finally, FNY Managed Accounts LLC boosted its holdings in shares of Goldman Sachs Group by 605.1% during the 2nd quarter. FNY Managed Accounts LLC now owns 557 shares of the investment management company’s stock worth $123,000 after purchasing an additional 478 shares during the last quarter. Institutional investors own 73.28% of the company’s stock.

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About Goldman Sachs Group

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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