The Goldman Sachs Group (NYSE:GS) Price Target Cut to $614.00 by Analysts at JPMorgan Chase & Co.

The Goldman Sachs Group (NYSE:GS) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $625.00 to $614.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 8.82% from the stock’s previous close.

GS has been the subject of a number of other reports. Wells Fargo & Company decreased their price objective on shares of The Goldman Sachs Group from $720.00 to $680.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Keefe, Bruyette & Woods cut The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $690.00 to $660.00 in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Citigroup lowered their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $591.13.

The Goldman Sachs Group Trading Up 2.9 %

The Goldman Sachs Group stock opened at $564.24 on Thursday. The Goldman Sachs Group has a 12 month low of $387.12 and a 12 month high of $672.19. 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 business’s fifty day simple moving average is $603.45 and its two-hundred day simple moving average is $573.30. The company has a market capitalization of $176.06 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The company had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The Goldman Sachs Group’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.48 EPS. As a group, equities analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the transaction, the insider now owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This represents a 59.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total value of $4,758,905.62. Following the sale, the insider now directly owns 9,589 shares in the company, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,925 shares of company stock worth $12,630,683 over the last three months. 0.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in The Goldman Sachs Group by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company’s stock valued at $3,761,576,000 after acquiring an additional 161,500 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of The Goldman Sachs Group by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company’s stock worth $3,524,669,000 after purchasing an additional 112,696 shares during the last quarter. FMR LLC lifted its position in shares of The Goldman Sachs Group by 23.7% in the fourth quarter. FMR LLC now owns 3,586,348 shares of the investment management company’s stock worth $2,053,614,000 after buying an additional 687,711 shares in the last quarter. Northern Trust Corp grew its holdings in The Goldman Sachs Group by 15.0% during the 4th quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company’s stock valued at $1,885,454,000 after buying an additional 428,502 shares in the last quarter. Finally, Invesco Ltd. increased its stake in The Goldman Sachs Group by 8.3% in the 4th quarter. Invesco Ltd. now owns 3,010,583 shares of the investment management company’s stock worth $1,723,920,000 after acquiring an additional 229,673 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

About The Goldman Sachs Group

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.