Rating Report: Instinet Cuts Goldman Sachs (NYSE:GS) To “Neutral”

November 29, 2016 - By Nellie Frank

Rating Report: Instinet Cuts Goldman Sachs (NYSE:GS) To

Goldman Sachs (NYSE:GS) Downgrade

In a analysts report shared with investors on Tuesday, 29 November, Instinet downgraded shares of Goldman Sachs (NYSE:GS) to a “Neutral” rating from a “Buy” rating.

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 has “Outperform” rating given by Credit Suisse on Wednesday, March 30. The firm has “Buy” rating by Evercore given on Monday, August 31. maintained the stock with “Buy” rating in Monday, October 10 report. The stock of Goldman Sachs Group Inc (NYSE:GS) has “Buy” rating given on Monday, October 17 by Rafferty. Guggenheim downgraded the stock to “Neutral” rating in Thursday, October 20 report. Oppenheimer upgraded the stock to “Outperform” rating in Monday, September 21 report. Sandler O’Neill upgraded it to “Buy” rating and $220.0 target price in Monday, October 12 report. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, January 25. On Friday, October 16 the stock rating was maintained by UBS with “Neutral”. The firm has “Buy” rating given on Monday, October 12 by Citigroup.

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 $1.75 billion 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 2016 Q2. 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.

Private Advisor Lc accumulated 0.06% or 10,249 shares. Duncker Streett holds 0.22% or 4,088 shares in its portfolio. Clarivest Asset Mngmt Ltd Co last reported 98,129 shares in the company. Moreover, First Natl Tru has 0.14% invested in Goldman Sachs Group Inc (NYSE:GS) for 6,196 shares. Fifth Third Bank holds 42,123 shares or 0.05% of its portfolio. Public Employees Retirement Association Of Colorado last reported 0.1% of its portfolio in the stock. Focused Wealth accumulated 0.57% or 8,367 shares. Guggenheim Cap Ltd Com has 0.1% invested in the company for 216,933 shares. Aperio Group Ltd Liability Corporation holds 161,575 shares or 0.19% of its portfolio. Savant Cap Ltd Liability holds 0.07% of its portfolio in Goldman Sachs Group Inc (NYSE:GS) for 1,761 shares. Howard Capital Mngmt last reported 63,889 shares in the company. Eastern Bankshares has 0.02% invested in the company for 2,000 shares. Lenox Wealth accumulated 358 shares or 0.04% of the stock. Richard Bernstein Advisors Limited Co last reported 0.23% of its portfolio in the stock. Moreover, Pax World Mngmt Lc has 0.67% invested in Goldman Sachs Group Inc (NYSE:GS) for 77,667 shares.

Insider Transactions: Since August 26, 2016, the stock had 0 insider purchases, and 19 selling transactions for $23.11 million net activity. Another trade for 1,448 shares valued at $299,681 was sold by VINIAR DAVID A. $2.33M worth of Goldman Sachs Group Inc (NYSE:GS) shares were sold by COOPER EDITH W. COHN GARY D also sold $744,056 worth of Goldman Sachs Group Inc (NYSE:GS) shares. 5,322 shares were sold by COHEN ALAN M, worth $1.11M. SMITH SARAH G sold $479,520 worth of Goldman Sachs Group Inc (NYSE:GS) on Monday, November 7. Another trade for 1,493 shares valued at $314,665 was sold by PALM GREGORY K. SHERWOOD MICHAEL S had sold 42,317 shares 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 $83.79 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 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 the news titled: “Trump Meets With Goldman’s Cohn as Dinner Set With Critic Romney” on November 29, 2016. Wsj.com‘s news article titled: “Goldman Sachs Drops Out of R3 Blockchain Group” with publication date: November 21, 2016 was also an interesting one.

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