JPMorgan Chase & Co. Reaffirms "Neutral" Rating for The Goldman Sachs Group (NYSE:GS)

Key Points

• JPMorgan Chase & Co. downgraded The Goldman Sachs Group from "overweight" to "neutral" with a price objective of $750.00, indicating a potential downside of 1.72% from the current stock price.
• The Goldman Sachs Group's quarterly earnings surpassed expectations, reporting an EPS of $12.25 against a consensus estimate of $10.27, while revenue was 19.5% higher compared to the same quarter last year.
• The stock has a consensus rating of "Hold," with three analysts rating it as a Buy, sixteen as Hold, and one as Sell, reflecting mixed sentiment among equities analysts.

The Goldman Sachs Group (NYSE:GS - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at JPMorgan Chase & Co. in a research report issued on Tuesday, Marketbeat reports. They presently have a $750.00 price objective on the investment management company's stock, up from their previous price objective of $625.00. JPMorgan Chase & Co.'s price target indicates a potential downside of 1.72% from the company's previous close.

Several other analysts also recently issued reports on GS. Evercore ISI upped their price target on The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a "market perform" rating in a research report on Friday. Wells Fargo & Company lifted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a research report on Tuesday, September 16th. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, HSBC boosted their target price on shares of The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $779.50.

The Goldman Sachs Group Trading Up 1.6%

NYSE:GS opened at $763.11 on Tuesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.67 and a current ratio of 1.11. The company has a market capitalization of $231.01 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.39 and a beta of 1.42. The stock's 50 day moving average price is $766.13 and its 200 day moving average price is $673.57. The Goldman Sachs Group has a 52 week low of $439.38 and a 52 week high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company had revenue of $11.33 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same quarter in the prior year, the business posted $8.40 EPS. The Goldman Sachs Group's quarterly revenue was up 19.5% on a year-over-year basis. On average, research analysts forecast that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Insider Activity at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,244 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the sale, the chief operating officer owned 115,268 shares of the company's stock, valued at $86,463,679.48. This trade represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,323 shares of company stock valued at $28,111,828 over the last ninety days. Company insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. RB Capital Management LLC grew its position in shares of The Goldman Sachs Group by 2.6% during the 3rd quarter. RB Capital Management LLC now owns 4,388 shares of the investment management company's stock worth $3,495,000 after buying an additional 110 shares during the period. Financial Consulate Inc. bought a new stake in shares of The Goldman Sachs Group during the 3rd quarter valued at $297,000. Salomon & Ludwin LLC lifted its stake in shares of The Goldman Sachs Group by 86.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 226 shares of the investment management company's stock valued at $179,000 after purchasing an additional 105 shares during the period. West Branch Capital LLC boosted its position in shares of The Goldman Sachs Group by 1,190.5% in the 3rd quarter. West Branch Capital LLC now owns 955 shares of the investment management company's stock worth $761,000 after purchasing an additional 881 shares during the last quarter. Finally, Ninety One UK Ltd increased its holdings in The Goldman Sachs Group by 6.5% in the third quarter. Ninety One UK Ltd now owns 615,216 shares of the investment management company's stock valued at $489,927,000 after purchasing an additional 37,639 shares during the last quarter. Institutional investors 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.