Wells Fargo & Company Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price objective dropped by research analysts at Wells Fargo & Company from $680.00 to $650.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the investment management company's stock. Wells Fargo & Company's target price points to a potential upside of 26.41% from the stock's previous close.

• Palantir Stock Builds Momentum on New Partnership

GS has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their price objective on shares of 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. Evercore ISI cut their price target on The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Morgan Stanley set a $558.00 price objective on The Goldman Sachs Group and gave the company an "equal weight" rating in a research note on Monday, April 7th. Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price for the company. in a research note on Friday, April 4th. Finally, Citigroup decreased their price target on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $581.63.

Read Our Latest Stock Report on GS

The Goldman Sachs Group Price Performance

• JPMorgan: The 'NVIDIA of Banking' Poised for More Gains?

GS stock traded up $10.21 during midday trading on Tuesday, hitting $514.19. 627,945 shares of the stock were exchanged, compared to its average volume of 3,006,622. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $160.45 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.89 and a beta of 1.33. The Goldman Sachs Group has a fifty-two week low of $395.18 and a fifty-two week high of $672.19. The stock's 50-day moving average price is $573.63 and its 200-day moving average price is $572.96.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The business had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same period in the previous year, the firm earned $11.58 EPS. Research analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Insider Transactions at The Goldman Sachs Group

• Banking Stocks Lead the Week: Stronger Economy on the Horizon?

In related news, insider Alex S. Golten sold 5,208 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the sale, the insider now directly owns 3,545 shares of the company's stock, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total transaction of $4,758,905.62. Following the completion of the transaction, the insider now directly owns 9,589 shares of the company's stock, valued at approximately $6,086,042.41. The trade was a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock valued at $12,630,683 over the last 90 days. Corporate insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds have recently bought and sold shares of GS. Jackson Grant Investment Advisers Inc. increased its stake in shares of The Goldman Sachs Group by 10.9% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company's stock worth $93,000 after buying an additional 16 shares during the last quarter. Ledyard National Bank grew its stake in The Goldman Sachs Group by 3.4% in the fourth quarter. Ledyard National Bank now owns 486 shares of the investment management company's stock worth $278,000 after purchasing an additional 16 shares in the last quarter. Seelaus Asset Management LLC raised its stake in The Goldman Sachs Group by 2.5% during the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company's stock valued at $378,000 after buying an additional 16 shares in the last quarter. Pointe Capital Management LLC grew its position in shares of The Goldman Sachs Group by 1.0% in the 4th quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company's stock worth $951,000 after acquiring an additional 16 shares in the last quarter. Finally, Genesee Capital Advisors LLC raised its position in shares of The Goldman Sachs Group by 1.0% during the 4th quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company's stock valued at $1,024,000 after acquiring an additional 17 shares in 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.

Recommended Stories

• Five stocks we like better than The Goldman Sachs Group
• What Are the FAANG Stocks and Are They Good Investments?
• Congress! Who Traded What During the Tariff-Induced Meltdown
• Do ETFs Pay Dividends? What You Need to Know
• 2 Under-the-Radar Consumer Staples Stocks With Big Dividends
• Election Stocks: How Elections Affect the Stock Market
• NATO Deal Sparks 4% Jump in Palantir Stock—What’s Next?

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.

Should You Invest $1,000 in The Goldman Sachs Group Right Now?

Before you consider The Goldman Sachs Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Goldman Sachs Group wasn't on the list.

While The Goldman Sachs Group currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here