Royal Bank of Canada Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $560.00

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price target lowered by equities research analysts at Royal Bank of Canada from $610.00 to $560.00 in a research note issued on Tuesday, MarketBeat reports. The firm currently has a "sector perform" rating on the investment management company's stock. Royal Bank of Canada's target price would suggest a potential upside of 9.84% from the stock's previous close.

Several other equities analysts have also recently commented on GS. Barclays cut their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a report on Tuesday. JMP Securities dropped their price target on The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Evercore ISI reduced their price objective on The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Morgan Stanley set a $558.00 target price on The Goldman Sachs Group and gave the company an "equal weight" rating in a research note on Monday, April 7th. Finally, Oppenheimer cut The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a report on Wednesday, March 19th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $593.40.

The Goldman Sachs Group Stock Up 2.2 %

GS stock traded up $10.78 during trading hours on Tuesday, hitting $509.83. The company's stock had a trading volume of 2,587,774 shares, compared to its average volume of 2,376,637. The company has a market capitalization of $159.09 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.89 and a beta of 1.33. The stock has a 50 day moving average price of $561.96 and a two-hundred day moving average price of $572.24. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group has a 12 month low of $403.01 and a 12 month high of $672.19.

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

Insider Activity

In other news, CAO Sheara J. Fredman sold 2,034 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total value of $1,275,338.34. Following the sale, the chief accounting officer now directly owns 6,455 shares in the company, valued at approximately $4,047,349.55. This trade represents a 23.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer Carey Halio sold 1,545 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the sale, the treasurer now directly owns 8,192 shares in the company, valued at approximately $5,117,296.64. The trade was a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,925 shares of company stock valued at $12,630,683. Corporate insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Stephens Consulting LLC purchased a new position in The Goldman Sachs Group during the fourth quarter valued at $26,000. Asset Planning Inc purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $29,000. Curio Wealth LLC bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $30,000. Godsey & Gibb Inc. raised its holdings in 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 acquiring an additional 34 shares during the last quarter. Finally, Transce3nd LLC bought a new position in The Goldman Sachs Group in the 4th quarter valued at approximately $31,000. Hedge funds and other 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.