Rating Buzzer: Is Goldman Sachs (GS) Worth Your Time After Placed Instinet’s Downgrade?

November 29, 2016 - By Darrin Black

Rating Buzzer: Is Goldman Sachs (GS) Worth Your Time After Placed Instinet's Downgrade?

Goldman Sachs (GS) Downgrade

Goldman Sachs (GS)‘s rating was cut by research professionals at Instinet from a Buy rating to a Neutral rating in a research note revealed on 29 November.

Goldman Sachs Group Inc (NYSE:GS) Ratings Coverage

Out of 5 analysts covering Goldman Sachs (GS), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Goldman Sachs has been the topic of 5 analyst reports since October 17, 2016 according to StockzIntelligence Inc. The company was upgraded on Monday, October 17 by Rafferty. As per Wednesday, October 19, the company rating was maintained by RBC Capital Markets. The firm has “Neutral” rating by Citigroup given on Tuesday, November 8. The stock of Goldman Sachs Group Inc (NYSE:GS) earned “Outperform” rating by Macquarie Research on Friday, November 18. As per Thursday, October 20, the company rating was downgraded by Guggenheim.

About 6,439 shares traded hands. Goldman Sachs Group Inc (GS) has risen 26.84% since April 26, 2016 and is uptrending. It has outperformed by 21.58% the S&P500.

Analysts await Goldman Sachs Group Inc (NYSE:GS) to report earnings on January, 18. They expect $4.42 earnings per share, down 5.56% or $0.26 from last year’s $4.68 per share. GS’s profit will be $1.75B for 11.92 P/E if the $4.42 EPS becomes a reality. After $4.88 actual earnings per share reported by Goldman Sachs Group Inc for the previous quarter, Wall Street now forecasts -9.43% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 0.86 in Q2 2016. Its up 0.05, from 0.81 in 2016Q1. The ratio is positive, as 92 funds sold all Goldman Sachs Group Inc shares owned while 379 reduced positions. 86 funds bought stakes while 297 increased positions. They now own 282.96 million shares or 8.29% less from 308.54 million shares in 2016Q1.

Dreman Value Mngmt L L C accumulated 12,796 shares or 1.18% of the stock. Howard Cap Mgmt holds 1.82% or 63,889 shares in its portfolio. Arizona State Retirement accumulated 0.2% or 94,742 shares. Parkside National Bank last reported 0.02% of its portfolio in the stock. New Mexico Educational Retirement Board, a New Mexico-based fund reported 45,039 shares. Thompson Siegel & Walmsley Ltd Liability last reported 0% of its portfolio in the stock. Macguire Cheswick Tuttle Inv Counsel Limited Liability Com reported 1,600 shares or 0.05% of all its holdings. Principal Fincl last reported 527,778 shares in the company. Compton Mgmt Inc Ri reported 8,105 shares or 0.67% of all its holdings. Utd Svcs Automobile Association owns 199,746 shares or 0.11% of their US portfolio. The Connecticut-based Greenwich Inv Mgmt Incorporated has invested 0.56% in Goldman Sachs Group Inc (NYSE:GS). Gamble Jones Inv Counsel accumulated 0.07% or 4,050 shares. Two Sigma Secs Lc holds 0.23% or 2,848 shares in its portfolio. Deere And last reported 0.24% of its portfolio in the stock. Ariel Ltd Liability Corp holds 0.06% of its portfolio in Goldman Sachs Group Inc (NYSE:GS) for 33,810 shares.

Insider Transactions: Since August 26, 2016, the stock had 0 insider buys, and 19 selling transactions for $23.11 million net activity. COOPER EDITH W had sold 24,509 shares worth $4.99 million on Friday, November 11. Shares for $948,763 were sold by COHEN ALAN M on Wednesday, November 9. Shares for $512,064 were sold by BLANKFEIN LLOYD C on Wednesday, November 16. Another trade for 1,448 shares valued at $299,681 was made by VINIAR DAVID A on Friday, November 11. 2,664 Goldman Sachs Group Inc (NYSE:GS) shares with value of $452,880 were sold by SMITH SARAH G. On Friday, November 11 COHN GARY D sold $744,056 worth of the stock or 3,566 shares. 42,317 shares were sold by SHERWOOD MICHAEL S, worth $8.75 million.

The Goldman Sachs Group, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $83.39 billion. The Firm operates through four divisions: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. It has a 16.79 P/E ratio. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.

According to Zacks Investment Research, “Goldman Sachs is a global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments, and high net worth individuals. (Company Press Release)”

GS Company Profile

The Goldman Sachs Group, Inc., incorporated on July 21, 1998, is a bank holding firm and a financial holding company. The Firm is an investment banking, securities and investment management firm that provides a range of financial services to a diversified client base that includes firms, financial institutions, governments and individuals. The Firm operates through four divisions: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s United States depository institution subsidiary, Goldman Sachs Bank USA (GS Bank USA), is a New York State chartered bank.

More news for Goldman Sachs Group Inc (NYSE:GS) were recently published by: Wsj.com, which released: “Goldman Sachs Drops Out of R3 Blockchain Group” on November 21, 2016. Bloomberg.com‘s article titled: “Ex-Goldman Partner Teague Taps Big Names for Boutique Adviser” and published on November 29, 2016 is yet another important article.

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