Rating To Observe: Goldman Sachs Group (NYSE:GS) Was Upgraded by Keefe Bruyette & Woods

November 29, 2016 - By whatsonthorold

Rating To Observe:  Goldman Sachs Group (NYSE:GS) Was Upgraded by Keefe Bruyette & Woods

Goldman Sachs Group (NYSE:GS) Upgrade

Goldman Sachs Group (NYSE:GS)‘s rating was raised by stock analysts at Keefe Bruyette & Woods from a “Market Perform” rating to a “Outperform” rating in a an analyst report revealed to clients on 29 November.

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 -9.15% below today’s ($212.41) stock price. Goldman Sachs Group Inc. has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Citigroup downgraded the shares of GS in a report on Tuesday, November 8 to “Neutral” rating. Oppenheimer maintained the stock with “Outperform” rating in Friday, January 29 report. The firm has “Sector Perform” rating by RBC Capital Markets given on Wednesday, October 19. Zacks downgraded the stock to “Hold” rating in Tuesday, September 22 report. On Wednesday, March 30 the stock rating was maintained by Credit Suisse with “Outperform”. Berenberg initiated the stock with “Hold” rating in Wednesday, July 13 report. The stock of Goldman Sachs Group Inc (NYSE:GS) earned “Buy” rating by Rafferty on Monday, October 17. The stock of Goldman Sachs Group Inc (NYSE:GS) earned “Buy” rating by Citigroup on Monday, October 12. The rating was downgraded by Guggenheim on Thursday, October 20 to “Neutral”. The firm has “Buy” rating by Evercore given on Monday, August 31.

About 1.57 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 12.01 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.

Trust Of Vermont reported 368 shares or 0.01% of all its holdings. Massmutual Tru Com Fsb Adv has 11,307 shares for 0% of their US portfolio. The New York-based Metropolitan Life Insur Com New York has invested 0.22% in Goldman Sachs Group Inc (NYSE:GS). Pictet North America Advsr holds 6,200 shares or 0.21% of its portfolio. Comerica State Bank accumulated 0.15% or 109,228 shares. Natixis, a France-based fund reported 337,374 shares. Moreover, Fdx has 0.01% invested in Goldman Sachs Group Inc (NYSE:GS) for 1,472 shares. Sanders Cap Limited Co holds 1.13M shares or 1.4% of its portfolio. Cibc Asset Mngmt Inc holds 37,985 shares or 0.04% of its portfolio. Point72 Asia (Hong Kong) Ltd has invested 0.31% of its portfolio in Goldman Sachs Group Inc (NYSE:GS). Winfield Associates, a Ohio-based fund reported 6,445 shares. Commonwealth Bancshares Of Australia owns 93,558 shares or 0.16% of their US portfolio. Capstone Asset owns 29,428 shares or 0.13% of their US portfolio. First Eagle Investment Mgmt Ltd Company has 151 shares for 0% of their US portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt Sys reported 30,931 shares or 0.08% of all its holdings.

Insider Transactions: Since August 26, 2016, the stock had 0 insider buys, and 19 insider sales for $23.11 million net activity. 5,322 shares with value of $1.11 million were sold by COHEN ALAN M on Monday, November 14. Another trade for 888 shares valued at $187,358 was made by VINIAR DAVID A on Tuesday, November 15. $46,099 worth of Goldman Sachs Group Inc (NYSE:GS) was sold by SMITH SARAH G on Friday, November 18. SHERWOOD MICHAEL S sold 913 shares worth $184,810. 2,483 shares were sold by BLANKFEIN LLOYD C, worth $512,064 on Wednesday, November 16. Another trade for 1,000 shares valued at $202,000 was made by BURNS M MICHELE on Friday, November 11. On Friday, November 11 COOPER EDITH W sold $4.99 million worth of the stock or 24,509 shares.

The Goldman Sachs Group, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $84.05 billion. The Firm operates through four divisions: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. It has a 16.92 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: Bloomberg.com which released: “Goldman’s Cohn Set to Meet With Trump Amid Transition Talks” on November 29, 2016. Also Investorplace.com published the news titled: “6 Reasons to Add Goldman Sachs Group Inc to Your Portfolio (GS)” 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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