The Goldman Sachs Group (NYSE:GS) Stock Gets Price Target Cut from Royal Bank Of Canada

The Goldman Sachs Group (NYSE:GS) had its price target decreased by Royal Bank Of Canada from $1,220.00 to $1,010.00 in a research report released on Wednesday, MarketBeat.com reports. Royal Bank Of Canada currently has a sector perform rating on the investment management company’s stock.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley set a $1,145.00 price objective on The Goldman Sachs Group in a report on Wednesday, July 15th. TD Cowen initiated coverage on The Goldman Sachs Group in a research report on Thursday, October 8th. They set a “buy” rating and a $1,050.00 target price for the company. Wells Fargo & Company decreased their price target on The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating on the stock in a research note on Friday, September 25th. Barclays boosted their price target on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $1,051.23.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $880.48 on Wednesday. The firm has a market cap of $256.37 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.94 and a beta of 1.29. The firm’s 50-day simple moving average is $974.71 and its 200-day simple moving average is $989.34. The Goldman Sachs Group has a twelve month low of $740.01 and a twelve month high of $1,153.99. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.63 and a current ratio of 1.10.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 13th. The investment management company reported $17.01 earnings per share for the quarter, beating analysts’ consensus estimates of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The business had revenue of $18.68 billion for the quarter, compared to analysts’ expectations of $16.83 billion. During the same quarter in the previous year, the firm posted $12.25 earnings per share. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, research analysts expect that The Goldman Sachs Group will post 68.54 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Wednesday, December 2nd will be given a $5.00 dividend. The ex-dividend date is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a yield of 2.3%. The Goldman Sachs Group’s payout ratio is 28.76%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Strive Financial Group LLC grew its position in The Goldman Sachs Group by 316.7% during the 2nd quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock worth $25,000 after acquiring an additional 19 shares during the last quarter. BOK Financial Private Wealth Inc. increased its holdings in The Goldman Sachs Group by 188.9% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 17 shares in the last quarter. Turim 21 Investimentos Ltda. acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at $25,000. Cherry Tree Wealth Management LLC raised its position in The Goldman Sachs Group by 100.0% in the 3rd quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock valued at $27,000 after purchasing an additional 15 shares during the last quarter. Finally, Steph & Co. bought a new position in The Goldman Sachs Group in the 1st quarter valued at $27,000. Institutional investors own 71.21% of the company’s stock.

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs reported third-quarter net revenue of approximately $18.7 billion, its second-highest quarterly total, while earnings increased 39% year over year. Strong equities trading and investment-banking fees supported the results, and financing activities accounted for more than 40% of trading revenue year to date. Zacks Analyst Blog Highlights Goldman Sachs
• Positive Sentiment: TD Cowen initiated coverage of Goldman Sachs with a Buy rating, adding a new bullish view after the company’s strong earnings report. TD Cowen Initiates Coverage
• Positive Sentiment: JPMorgan raised its Goldman Sachs price target from $955 to $970, implying meaningful potential upside from recent levels, although it retained a Neutral rating. JPMorgan Price Target Update
• Neutral Sentiment: Goldman CEO David Solomon said the underlying economy remains solid and capital-markets activity is strong, but abrupt interest-rate movements are creating headwinds. That suggests favorable deal activity may be offset by macroeconomic volatility. Goldman CEO David Solomon Interest Rate Warning
• Negative Sentiment: Analyst actions from RBC and Citigroup lowered expectations for Goldman Sachs, reinforcing concerns that the stock’s strong earnings are already reflected in its valuation. RBC Goldman Sachs Price Target Cut Citigroup Goldman Sachs Expectations
• Negative Sentiment: Goldman Sachs and other banks delivered earnings beats but saw their shares weaken as investors focused on mixed guidance, interest-rate uncertainty and a broader “sell-the-news” reaction. Why Bank Shares Are Falling
• Negative Sentiment: Goldman Sachs data showed hedge funds suffering losses as investors unwound AI-related trades amid inflation concerns and expectations for higher rates, adding to the risk-off environment affecting financial stocks. AI Trade Unwind Hurts Hedge Funds

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.