Zacks Investment Research Downgrades Goldman Sachs Group, Inc. (The) (GS) to Hold

Marty Chavez

Goldman Sachs CFO Marty Chavez Goldman Sachs

(The) from a "buy" rating to a "hold" rating in a report on Friday, November 3rd.

Want to see what other hedge funds are holding GS? The stock has an average rating of "Hold" and an average target price of $211.60. J P Morgan Chase & Co set a $243.00 price objective on shares of Goldman Sachs Group, Inc. Krilogy Financial LLC increased its stake in shares of Goldman Sachs Group, Inc. (The) in a report on Friday, July 21st. Finally, RBC Capital Markets set a $170.00 price objective on shares of Goldman Sachs Group, Inc. (The) from a buy rating to a neutral rating and increased their price objective for the company from $220.19 to $230.00 in a report on Monday, July 24th. (The) from a "buy" rating to a "hold" rating and raised their price target for the stock from $223.80 to $250.00 in a report on Friday, August 11th.

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 presently has a consensus rating of "Hold" and a consensus price target of $245.06.

Goldman Sachs Group, Inc. has a 12 month low of $204.15 and a 12 month high of $255.15. (NYSE:GS) traded up $0.12 during midday trading on Tuesday, reaching $240.27. The company had a trading volume of 86,700 shares, compared to its average volume of 176,703. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.82. The firm has a market capitalization of $98.15 billion, a price-to-earnings ratio of 18.8071 and a beta of 1.61. (The) (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.80 by $0.28. The company had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $7.59 billion. (The) had a net margin of 26.42% and a return on equity of 11.34%. (The) by 2.0% during the 2nd quarter.

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The company is now down from yesterday's close of 240.12. Stockholders of record on Thursday, November 30th will be paid a $0.75 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, November 29th. (The)'s dividend payout ratio (DPR) is 15.63%. The stock realized a fall in short interest of -31.63% between October 13, 2017 and October 31, 2017. The shares were sold at an average price of $245.00, for a total transaction of $6,125,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Cedar Wealth Management LLC increased its stake in shares of Goldman Sachs Group, Inc. (The) stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $211.47, for a total value of $46,100.46. The disclosure for this sale can be found here. Alliancebernstein L.P. now owns 2,560,889 shares valued at $607,417,000. Following the completion of the sale, the chairman now directly owns 1,524,471 shares in the company, valued at $322,151,211.72. Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of Goldman Sachs Group, Inc. (The) during the 2nd quarter worth approximately $407,000.

The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. (The) in the second quarter valued at about $101,000. Finally, Vertical Group cut shares of Goldman Sachs Group, Inc. (The) by 3.8% in the second quarter. Krilogy Financial LLC now owns 1,213 shares of the investment management company's stock valued at $180,000 after buying an additional 843 shares during the period. Huntington National Bank's holdings in Goldman Sachs Group, Inc. (The) by 35.7% in the second quarter. The value of the investment in GS increased from $55,653,000 to $58,766,000 increasing 5.6% for the reporting period. GLG Partners LP boosted its stake in shares of Goldman Sachs Group, Inc. (The) by 22.7% in the second quarter.

Here are a few institutional investors who have updated their positions. Shine Investment Advisory Services Inc. purchased a new stake in shares of Goldman Sachs Group, Inc. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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