Traders Sell Shares of Goldman Sachs Group (GS) on Strength Following Analyst Downgrade

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Traders sold shares of Goldman Sachs Group Inc (NYSE:GS) on strength during trading hours on Tuesday after Zacks Investment Research downgraded the stock from a hold rating to a sell rating. $201.82 million flowed into the stock on the tick-up and $251.48 million flowed out of the stock on the tick-down, for a money net flow of $49.66 million out of the stock. Of all stocks tracked, Goldman Sachs Group had the 0th highest net out-flow for the day. Goldman Sachs Group traded up $3.49 for the day and closed at $171.50

Several other equities analysts have also recently issued reports on GS. Wells Fargo & Co dropped their price target on Goldman Sachs Group from $305.00 to $235.00 and set an “outperform” rating on the stock in a research report on Tuesday. Credit Suisse Group dropped their target price on Goldman Sachs Group from $280.00 to $258.00 and set an “outperform” rating on the stock in a research report on Friday, December 7th. Atlantic Securities cut Goldman Sachs Group from an “overweight” rating to a “neutral” rating in a research report on Wednesday, December 12th. Bank of America dropped their target price on Goldman Sachs Group from $280.00 to $225.00 and set a “neutral” rating on the stock in a research report on Sunday, December 9th. Finally, Wolfe Research initiated coverage on Goldman Sachs Group in a research report on Tuesday, September 25th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Goldman Sachs Group currently has an average rating of “Hold” and an average target price of $261.27.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Goldman Sachs Group by 1.3% in the third quarter. Vanguard Group Inc. now owns 24,669,387 shares of the investment management company’s stock worth $5,531,864,000 after acquiring an additional 307,849 shares during the last quarter. Vanguard Group Inc lifted its holdings in Goldman Sachs Group by 1.3% in the third quarter. Vanguard Group Inc now owns 24,669,387 shares of the investment management company’s stock worth $5,531,864,000 after acquiring an additional 307,849 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Goldman Sachs Group by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,736,573 shares of the investment management company’s stock valued at $2,631,807,000 after purchasing an additional 360,264 shares during the period. Capital International Investors increased its stake in shares of Goldman Sachs Group by 2,110.7% in the third quarter. Capital International Investors now owns 4,882,975 shares of the investment management company’s stock valued at $1,094,958,000 after purchasing an additional 4,662,095 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Goldman Sachs Group by 7.2% in the third quarter. The Manufacturers Life Insurance Company now owns 3,645,733 shares of the investment management company’s stock valued at $817,519,000 after purchasing an additional 243,800 shares during the period. 70.83% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $62.50 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.55 and a beta of 1.11. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.90 and a current ratio of 0.90.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 EPS for the quarter, beating the consensus estimate of $5.38 by $0.90. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 14.10%. The company had revenue of $8.65 billion for the quarter, compared to analyst estimates of $8.43 billion. During the same quarter last year, the business earned $5.02 earnings per share. Goldman Sachs Group’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts forecast that Goldman Sachs Group Inc will post 25.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Thursday, November 29th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.83%. Goldman Sachs Group’s dividend payout ratio is presently 16.19%.

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About Goldman Sachs Group (NYSE:GS)

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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