The Goldman Sachs Group (NYSE:GS) Earns Market Perform Rating from Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets has initiated coverage of The Goldman Sachs Group with a "market perform" rating and set a price target of $785.00, indicating a potential upside of 0.70% from its current price.
• The company reported $10.91 earnings per share for the last quarter, exceeding estimates by $1.09 and showing a 14.5% increase in quarterly revenue year-over-year.
• Analysts currently have a consensus rating of "Hold" on the stock, with an average price target of $713.88 and a notable presence of institutional ownership at 71.21%.

Research analysts at BMO Capital Markets began coverage on shares of The Goldman Sachs Group (NYSE:GS - Get Free Report) in a research report issued on Friday,Benzinga reports. The firm set a "market perform" rating and a $785.00 price target on the investment management company's stock. BMO Capital Markets' price objective points to a potential upside of 0.70% from the stock's current price.

A number of other equities research analysts have also weighed in on GS. JMP Securities reaffirmed a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. HSBC reaffirmed a "reduce" rating and set a $627.00 price target (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Citigroup increased their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Royal Bank Of Canada increased their price objective on shares of The Goldman Sachs Group from $750.00 to $843.00 and gave the company a "sector perform" rating in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $713.88.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $779.53 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The company has a market cap of $235.98 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.63 and a beta of 1.42. The Goldman Sachs Group has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The firm's 50 day moving average is $753.82 and its two-hundred day moving average is $653.41.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the business earned $8.62 earnings per share. The business's quarterly revenue was up 14.5% compared to the same quarter last year. Analysts expect that The Goldman Sachs Group will post 47.12 EPS for the current year.

Insider Activity

In related news, COO John E. Waldron sold 9,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total value of $6,754,590.00. Following the sale, the chief operating officer directly owned 106,268 shares in the company, valued at $79,755,196.68. This trade represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Several large investors have recently bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group during the 1st quarter valued at about $25,000. Dogwood Wealth Management LLC increased its stake in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock valued at $26,000 after buying an additional 36 shares during the period. American Capital Advisory LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. grew its stake in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds 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.

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