Goldman Sachs Group (GS) Downgraded by Morgan Stanley

Morgan Stanley lowered shares of Goldman Sachs Group (NYSE:GS) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have $226.00 price target on the investment management company’s stock.

A number of other research analysts have also commented on GS. Zacks Investment Research raised Goldman Sachs Group from a hold rating to a buy rating and set a $249.00 price target for the company in a research report on Tuesday, November 13th. JPMorgan Chase & Co. reaffirmed a buy rating and set a $285.00 price target on shares of Goldman Sachs Group in a research report on Monday, September 10th. Wells Fargo & Co reaffirmed a buy rating on shares of Goldman Sachs Group in a research report on Thursday, September 20th. BMO Capital Markets upped their price target on Goldman Sachs Group from $261.00 to $276.00 and gave the company a market perform rating in a research report on Wednesday, October 17th. They noted that the move was a valuation call. Finally, Wolfe Research began coverage on Goldman Sachs Group in a research report on Tuesday, September 25th. They set an outperform rating for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Goldman Sachs Group presently has an average rating of Hold and an average target price of $276.46.

NYSE GS opened at $189.10 on Wednesday. Goldman Sachs Group has a 1-year low of $188.94 and a 1-year high of $275.31. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $71.64 billion, a PE ratio of 9.57, a P/E/G ratio of 0.63 and a beta of 1.15.

Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 16th. The investment management company reported $6.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.38 by $0.90. Goldman Sachs Group had a return on equity of 14.10% and a net margin of 16.68%. The company had revenue of $8.65 billion during the quarter, compared to analyst estimates of $8.43 billion. During the same quarter in the previous year, the company posted $5.02 EPS. Goldman Sachs Group’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts forecast that Goldman Sachs Group will post 25.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 30th will be issued 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 1.69%. Goldman Sachs Group’s dividend payout ratio (DPR) is 16.19%.

Hedge funds have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC grew its holdings in shares of Goldman Sachs Group by 7,719.0% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock worth $104,000 after acquiring an additional 23,157 shares during the period. Zions Bancorporation purchased a new position in shares of Goldman Sachs Group during the 2nd quarter worth approximately $109,000. Palo Capital Inc. purchased a new position in shares of Goldman Sachs Group during the 3rd quarter worth approximately $109,000. First Mercantile Trust Co. purchased a new position in shares of Goldman Sachs Group during the 2nd quarter worth approximately $110,000. Finally, Asset Advisors Investment Management LLC purchased a new position in shares of Goldman Sachs Group during the 3rd quarter worth approximately $115,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

About Goldman Sachs Group

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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