Stock Rating Runner: Nomura Reports Downgrade of Goldman Sachs (GS) from “Buy” to “Neutral” Rating

November 29, 2016 - By Michael Collier

Stock Rating Runner: Nomura Reports Downgrade of Goldman Sachs (GS) from

Goldman Sachs (GS) Downgrade

In a a research note made public on Tuesday morning, Nomura has decreased Goldman Sachs (GS) stock to “Neutral”. GS’s old rating was “Buy”.

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 stock of Goldman Sachs Group Inc (NYSE:GS) has “Neutral” rating given on Thursday, October 20 by Guggenheim. The firm has “Neutral” rating given on Tuesday, November 8 by Citigroup. 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) has “Sector Perform” rating given on Wednesday, October 19 by RBC Capital Markets. On Friday, November 18 the stock rating was upgraded by Macquarie Research to “Outperform”.

About 1.07 million 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 $1.75 billion for 11.99 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 increased, 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.

Moreover, Bradley Foster And Sargent Ct has 0.01% invested in Goldman Sachs Group Inc (NYSE:GS) for 1,565 shares. Valley Advisers owns 582 shares or 0.04% of their US portfolio. Scotia Inc has 13,725 shares for 0.04% of their US portfolio. Lsv Asset Mgmt has 1.47 million shares for 0.45% of their US portfolio. Ing Groep Nv accumulated 0.44% or 218,082 shares. Hightower Advsrs Ltd Liability Company owns 29,582 shares or 0.06% of their US portfolio. Tompkins Fincl last reported 364 shares in the company. Moreover, Sei Invs has 0.15% invested in Goldman Sachs Group Inc (NYSE:GS) for 166,610 shares. Nippon Life Insurance accumulated 15,248 shares or 0.06% of the stock. Bnp Paribas Invest Prns Sa has 0.13% invested in the company for 99,888 shares. Ally Financial accumulated 1.24% or 50,000 shares. The Wisconsin-based Johnson Financial Grp Inc Incorporated has invested 0.01% in Goldman Sachs Group Inc (NYSE:GS). Finemark Fincl Bank And Trust accumulated 0.04% or 2,126 shares. Apg Asset Nv accumulated 0.23% or 813,956 shares. Commercial Bank Of The Ozarks holds 2,863 shares or 0.15% of its portfolio.

Insider Transactions: Since August 26, 2016, the stock had 0 buys, and 19 insider sales for $23.11 million net activity. Shares for $80,892 were sold by SMITH SARAH G. On Friday, November 11 the insider COHN GARY D sold $744,056. BURNS M MICHELE sold $202,000 worth of Goldman Sachs Group Inc (NYSE:GS) on Friday, November 11. 42,317 shares were sold by SHERWOOD MICHAEL S, worth $8.75M on Wednesday, November 16. The insider PALM GREGORY K sold $314,665. 14,000 shares with value of $2.33M were sold by COOPER EDITH W on Friday, August 26. VINIAR DAVID A had sold 1,448 shares worth $299,681.

The Goldman Sachs Group, Inc. is a bank holding firm and a financial holding company. The company has a market cap of $83.91 billion. The Firm operates through four divisions: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. It has a 16.89 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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