Rating Flow: Nomura Says Its Time To Downgrade Goldman Sachs (NYSE:GS)

November 29, 2016 - By Dolores Ford

Rating Flow: Nomura Says Its Time To Downgrade Goldman Sachs (NYSE:GS)

Goldman Sachs (NYSE:GS) Downgrade

In a analysts report published on Tuesday morning, Nomura has decreased Goldman Sachs (NYSE:GS) stock to “Neutral”. GS’s old rating was “Buy”.

Goldman Sachs Group Inc (NYSE:GS) Ratings Coverage

Out of 19 analysts covering Goldman Sachs Group Inc. (NYSE:GS), 12 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 63% are positive. $259.0 is the highest target while $140 is the lowest. The $192.98 average target is -8.89% below today’s ($211.8) stock price. Goldman Sachs Group Inc. has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Goldman Sachs Group Inc (NYSE:GS) earned “Hold” rating by Berenberg on Wednesday, July 13. The rating was maintained by Oppenheimer on Tuesday, January 5 with “Outperform”. The rating was maintained by Oppenheimer with “Outperform” on Friday, January 29. The rating was upgraded by Citigroup on Monday, October 12 to “Buy”. The stock of Goldman Sachs Group Inc (NYSE:GS) has “Sector Perform” rating given on Wednesday, October 19 by RBC Capital Markets. UBS maintained Goldman Sachs Group Inc (NYSE:GS) rating on Friday, October 16. UBS has “Neutral” rating and $180 price target. The stock of Goldman Sachs Group Inc (NYSE:GS) has “Outperform” rating given on Monday, September 21 by Oppenheimer. On Tuesday, February 16 the stock rating was upgraded by JP Morgan to “Overweight”. The firm earned “Outperform” rating on Friday, November 18 by Macquarie Research. As per Monday, October 26, the company rating was upgraded by Morgan Stanley.

About 2.57 million shares traded hands. Goldman Sachs Group Inc (NYSE: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 11.98 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 improved, 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.

Blackrock Institutional Tru Na has invested 0.24% of its portfolio in Goldman Sachs Group Inc (NYSE:GS). Kj Harrison Prtn last reported 12,180 shares in the company. Wesbanco Bancorp holds 0.12% or 13,204 shares in its portfolio. Caz Invs L P accumulated 7,570 shares or 1.2% of the stock. Tudor Inv Et Al has 10,549 shares for 0.03% of their US portfolio. Ltd Ca accumulated 188,200 shares or 2.03% of the stock. Glg Ltd Liability Com holds 0.34% or 30,462 shares in its portfolio. Bahl & Gaynor holds 0.03% of its portfolio in Goldman Sachs Group Inc (NYSE:GS) for 18,086 shares. Vanguard Group Inc has 22.47 million shares for 0.21% of their US portfolio. Ballentine Prtn Limited Liability reported 1,374 shares or 0.02% of all its holdings. First Citizens Bancorporation And holds 0.05% of its portfolio in Goldman Sachs Group Inc (NYSE:GS) for 3,848 shares. Eagle Lc holds 2.88 million shares or 1.84% of its portfolio. Fincl Bank accumulated 2,507 shares or 0.14% of the stock. M&T Bank & Trust last reported 0.06% of its portfolio in the stock. Us State Bank De, a Minnesota-based fund reported 172,859 shares.

Insider Transactions: Since August 26, 2016, the stock had 0 insider purchases, and 19 selling transactions for $23.11 million net activity. COOPER EDITH W had sold 14,000 shares worth $2.33M. BURNS M MICHELE had sold 1,000 shares worth $202,000. $529,134 worth of Goldman Sachs Group Inc (NYSE:GS) was sold by BLANKFEIN LLOYD C on Friday, November 18. Shares for $46,099 were sold by SMITH SARAH G on Friday, November 18. The insider COHEN ALAN M sold $948,763. On Tuesday, November 15 the insider VINIAR DAVID A sold $187,358. PALM GREGORY K sold $314,665 worth of stock or 1,493 shares.

The Goldman Sachs Group, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $83.79 billion. The Firm operates through four divisions: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. It has a 16.87 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 important recent Goldman Sachs Group Inc (NYSE:GS) news were published by: Investorplace.com which released: “6 Reasons to Add Goldman Sachs Group Inc to Your Portfolio (GS)” on November 29, 2016, also Bloomberg.com published article titled: “Goldman’s Cohn Set to Meet With Trump Amid Transition Talks”, Wsj.com published: “Goldman Sachs Drops Out of R3 Blockchain Group” on November 21, 2016. More interesting news about Goldman Sachs Group Inc (NYSE:GS) was released by: Bloomberg.com and their article: “Ex-Goldman Partner Teague Taps Big Names for Boutique Adviser” with publication date: November 29, 2016.

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