The Goldman Sachs Group (NYSE:GS) Receives "Market Perform" Rating from JMP Securities

The Goldman Sachs Group (NYSE:GS - Get Free Report)'s stock had its "market perform" rating reissued by equities research analysts at JMP Securities in a report released on Monday,Benzinga reports. They currently have a $600.00 price objective on the investment management company's stock. JMP Securities' price objective would suggest a potential downside of 14.82% from the company's previous close.

Several other research analysts have also commented on GS. Oppenheimer lowered shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 19th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. dropped their price target on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, HSBC reaffirmed a "reduce" rating and set a $627.00 price target (up previously from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $614.00.

The Goldman Sachs Group Stock Down 0.1%

The Goldman Sachs Group stock traded down $0.53 during midday trading on Monday, hitting $704.42. 112,068 shares of the stock were exchanged, compared to its average volume of 2,380,135. The Goldman Sachs Group has a 1 year low of $437.37 and a 1 year high of $726.00. The firm has a market cap of $216.14 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.96 and a beta of 1.35. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50 day moving average price of $632.13 and a two-hundred day moving average price of $596.59.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The company had revenue of $15.06 billion during the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter in the previous year, the firm earned $11.58 EPS. On average, sell-side analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John B. Hess bought 3,904 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were acquired at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the acquisition, the director directly owned 3,904 shares of the company's stock, valued at $1,997,598.72. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.55% of the stock is owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Large investors have recently made changes to their positions in the company. Deutsche Bank AG grew its position in The Goldman Sachs Group by 15.4% in the fourth quarter. Deutsche Bank AG now owns 1,038,057 shares of the investment management company's stock worth $594,412,000 after acquiring an additional 138,198 shares in the last quarter. Baxter Bros Inc. boosted its holdings in shares of The Goldman Sachs Group by 1.0% during the 4th quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company's stock worth $8,879,000 after buying an additional 151 shares during the period. Clear Creek Financial Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $321,000. Terra Nova Asset Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $1,643,000. Finally, Strategic Blueprint LLC boosted its holdings in The Goldman Sachs Group by 15.2% in the 1st quarter. Strategic Blueprint LLC now owns 3,271 shares of the investment management company's stock valued at $1,787,000 after purchasing an additional 432 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.