Citigroup Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its price target dropped by equities research analysts at Citigroup from $585.00 to $550.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the investment management company's stock. Citigroup's target price would indicate a potential downside of 1.71% from the company's previous close.

GS has been the subject of several other reports. UBS Group boosted their price objective on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Tuesday, January 21st. Wells Fargo & Company reiterated an "overweight" rating on shares of The Goldman Sachs Group in a report on Friday, February 28th. Keefe, Bruyette & Woods downgraded The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $690.00 to $660.00 in a research report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Finally, Oppenheimer downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Hold" and an average price target of $593.27.

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The Goldman Sachs Group Price Performance

Shares of GS traded down $14.35 during midday trading on Monday, hitting $559.57. 1,387,483 shares of the company traded hands, compared to its average volume of 2,238,978. The stock has a market cap of $174.61 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.89 and a beta of 1.37. The Goldman Sachs Group has a 52 week low of $387.12 and a 52 week high of $672.19. The firm has a 50 day moving average of $610.88 and a 200-day moving average of $570.63. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The company had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm's revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted $5.48 earnings per share. On average, analysts forecast that The Goldman Sachs Group will post 47.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Treasurer Carey Halio sold 3,640 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $636.74, for a total value of $2,317,733.60. Following the sale, the treasurer now directly owns 4,552 shares of the company's stock, valued at approximately $2,898,440.48. This represents a 44.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alex S. Golten sold 5,208 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the transaction, the insider now directly owns 3,545 shares of the company's stock, valued at $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,925 shares of company stock worth $12,630,683 in the last ninety days. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of large investors have recently modified their holdings of the business. Stephens Consulting LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group during the fourth quarter worth about $29,000. Curio Wealth LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter worth about $30,000. Transce3nd LLC purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth about $31,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter worth approximately $31,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

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.