Royal Bank of Canada Has Lowered Expectations for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS) had its target price decreased by Royal Bank of Canada from $610.00 to $560.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the investment management company’s stock. Royal Bank of Canada’s target price suggests a potential upside of 8.72% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Wells Fargo & Company decreased their price objective on The Goldman Sachs Group from $680.00 to $650.00 and set an “overweight” rating on the stock in a research report on Tuesday. Citigroup lowered their price objective on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. UBS Group lifted their price target on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Finally, Keefe, Bruyette & Woods cut shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $585.38.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded up $11.13 during trading hours on Tuesday, hitting $515.11. 819,537 shares of the stock were exchanged, compared to its average volume of 2,396,822. The Goldman Sachs Group has a 12 month low of $395.18 and a 12 month high of $672.19. The business’s 50-day moving average is $573.63 and its two-hundred day moving average is $572.96. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $160.73 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.89 and a beta of 1.33.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $1.55. The firm had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. During the same quarter in the previous year, the company posted $11.58 EPS. Equities research analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Sheara J. Fredman sold 2,034 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now owns 6,455 shares in the company, valued at $4,047,349.55. This represents a 23.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Treasurer Carey Halio sold 1,545 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $624.67, for a total transaction of $965,115.15. Following the sale, the treasurer now directly owns 8,192 shares in the company, valued at $5,117,296.64. This trade represents a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,925 shares of company stock worth $12,630,683. 0.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GS. Stephens Consulting LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Asset Planning Inc bought a new position in shares of The Goldman Sachs Group in the fourth quarter valued at about $29,000. Curio Wealth LLC acquired a new position in The Goldman Sachs Group in the 4th quarter valued at about $30,000. Godsey & Gibb Inc. lifted its position in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Finally, Transce3nd LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth approximately $31,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

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.