HSBC Reaffirms Reduce Rating for The Goldman Sachs Group (NYSE:GS)

HSBC reissued their reduce rating on shares of The Goldman Sachs Group (NYSE:GS - Free Report) in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have a $627.00 price target on the investment management company's stock.

GS has been the subject of several other research reports. Royal Bank Of Canada decreased their target price on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 15th. Evercore ISI boosted their price objective on The Goldman Sachs Group from $630.00 to $715.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Daiwa Capital Markets cut The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective for the company. in a research note on Friday, April 4th. Citigroup reduced 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 note on Monday, March 24th. Finally, JPMorgan Chase & Co. reduced their price objective on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $614.00.

The Goldman Sachs Group Trading Down 2.0%

NYSE GS traded down $14.15 during trading on Tuesday, hitting $696.78. The stock had a trading volume of 3,098,904 shares, compared to its average volume of 2,403,706. The company has a market capitalization of $213.80 billion, a PE ratio of 16.17, a PEG ratio of 0.99 and a beta of 1.35. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The firm has a 50 day moving average price of $620.36 and a 200 day moving average price of $593.17. The Goldman Sachs Group has a twelve month low of $437.37 and a twelve month high of $726.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The business had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the previous year, the company posted $11.58 earnings per share. As a group, equities research analysts forecast that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is presently 27.85%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess acquired 3,904 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were purchased at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the acquisition, the director directly owned 3,904 shares of the company's stock, valued at approximately $1,997,598.72. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock valued at $1,989,000 after purchasing an additional 508 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares during the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at $583,000. Highview Capital Management LLC DE grew its holdings in The Goldman Sachs Group by 4.7% in the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock valued at $2,186,000 after purchasing an additional 171 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its holdings in The Goldman Sachs Group by 5.4% in the fourth quarter. Proficio Capital Partners LLC now owns 7,916 shares of the investment management company's stock valued at $4,533,000 after purchasing an additional 404 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

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.