Trade Report: Today, Instinet Downgrade Goldman Sachs Group Inc. (GS) to Neutral

Today, Instinet Downgrade Goldman Sachs Group Inc. (GS) to Neutral

Goldman Sachs Group Inc. (NYSE:GS) was downgraded by Instinet from a “buy” rating to a “neutral” rating in a report released on Tuesday.

Several other equities analysts also recently issued reports on GS. Citigroup Inc. boosted their price objective on Goldman Sachs Group from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, October 10th. Zacks Investment Research downgraded Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Monday, September 26th. JMP Securities reiterated a “market perform” rating on shares of Goldman Sachs Group in a research report on Sunday, November 13th. Vetr upgraded Goldman Sachs Group from a “sell” rating to a “strong-buy” rating and set a $179.28 price objective for the company in a research report on Thursday, September 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $214.00 price objective (up from $200.00) on shares of Goldman Sachs Group in a research report on Friday, October 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the stock. Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus price target of $182.28.

Goldman Sachs Group (NYSE:GS) opened at 209.70 on Tuesday. The stock has a market capitalization of $87.82 billion, a P/E ratio of 16.83 and a beta of 1.55. Goldman Sachs Group has a 1-year low of $138.20 and a 1-year high of $213.41. The company has a 50-day moving average price of $186.97 and a 200 day moving average price of $166.34.

Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 18th. The investment management company reported $4.88 EPS for the quarter, beating the Zacks’ consensus estimate of $3.79 by $1.09. Goldman Sachs Group had a return on equity of 9.73% and a net margin of 19.58%. The company earned $8.17 billion during the quarter, compared to the consensus estimate of $7.41 billion. During the same period in the previous year, the firm posted $4.51 earnings per share. Goldman Sachs Group’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, equities analysts predict that Goldman Sachs Group will post $15.53 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.24%. The ex-dividend date is Tuesday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 20.72%.

In other news, EVP Alan M. Cohen sold 5,000 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $181.19, for a total transaction of $905,950.00. Following the transaction, the executive vice president now directly owns 61,444 shares in the company, valued at approximately $11,133,038.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sarah G. Smith sold 2,664 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total transaction of $452,880.00. Following the transaction, the insider now owns 13,075 shares in the company, valued at $2,222,750. The disclosure for this sale can be found here. Company insiders own 2.61% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Factory Mutual Insurance Co. boosted its stake in shares of Goldman Sachs Group by 5.1% in the second quarter. Factory Mutual Insurance Co. now owns 413,600 shares of the investment management company’s stock worth $61,453,000 after buying an additional 20,000 shares in the last quarter. Breton Hill Capital Ltd. boosted its stake in shares of Goldman Sachs Group by 30.6% in the second quarter. Breton Hill Capital Ltd. now owns 6,443 shares of the investment management company’s stock worth $957,000 after buying an additional 1,509 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of Goldman Sachs Group during the second quarter worth about $288,000. Stillwater Capital Advisors LLC acquired a new stake in shares of Goldman Sachs Group during the second quarter worth about $5,141,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Goldman Sachs Group by 15.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,552 shares of the investment management company’s stock worth $231,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 69.61% of the company’s stock.

Goldman Sachs Group Company Profile

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