The stock of Goldman Sachs Group Inc (NYSE:GS) hit a new 52-week high and has $220.48 target or 4.00% above today’s $212.00 share price. The 6 months bullish chart indicates low risk for the $84.31 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $220.48 price target is reached, the company will be worth $3.37 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.76 million shares traded hands. Goldman Sachs Group Inc (NYSE:GS) has risen 27.70% since April 21, 2016 and is uptrending. It has outperformed by 22.37% 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 $1.76B 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.
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. Goldman Sachs Group Inc. has been the topic of 41 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was upgraded by Oppenheimer on Monday, September 21 to “Outperform”. The rating was maintained by Oppenheimer on Tuesday, October 6 with “Outperform”. The company was maintained on Monday, January 25 by RBC Capital Markets. On Monday, October 26 the stock rating was upgraded by Morgan Stanley to “Overweight”. The stock has “Outperform” rating given by Oppenheimer on Friday, January 29. The rating was downgraded by Citigroup to “Neutral” on Tuesday, November 8. The firm has “Buy” rating by Nomura given on Monday, January 25. The rating was upgraded by Sandler O’Neill to “Buy” on Monday, October 12. The rating was maintained by RBC Capital Markets on Wednesday, October 19 with “Sector Perform”. Macquarie Research upgraded the stock to “Outperform” rating in Friday, November 18 report.
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)”
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.
Janney Cap Mgmt Ltd Liability has 0.58% invested in the company for 74,282 shares. Tower Bridge Advisors, a Pennsylvania-based fund reported 41,621 shares. Laurel Grove Limited Liability holds 3,700 shares or 0.33% of its portfolio. The Hawaii-based Ckw Financial Grp has invested 0.04% in Goldman Sachs Group Inc (NYSE:GS). Amp Invsts, a Australia-based fund reported 154,810 shares. Hennessy Advisors, a California-based fund reported 12,500 shares. The South Carolina-based South State Corp has invested 0.93% in Goldman Sachs Group Inc (NYSE:GS). Moreover, Cornerstone Advisors has 0.06% invested in Goldman Sachs Group Inc (NYSE:GS) for 373 shares. Waldron Ltd Partnership holds 1,812 shares or 0.14% of its portfolio. Calamos Ltd Llc owns 68,909 shares or 0.07% of their US portfolio. Telos Mngmt has 0.2% invested in the company for 2,773 shares. Great West Life Assurance Com Can accumulated 287,270 shares or 0.16% of the stock. Schwerin Boyle Mngmt holds 0.41% or 19,150 shares in its portfolio. Community State Bank Na owns 150 shares or 0.01% of their US portfolio. Maltese Mngmt Limited Liability holds 0.82% or 44,200 shares in its portfolio.
Insider Transactions: Since August 26, 2016, the stock had 0 insider purchases, and 19 selling transactions for $23.11 million net activity. 888 shares were sold by VINIAR DAVID A, worth $187,358. SHERWOOD MICHAEL S sold $8.75M worth of stock or 42,317 shares. 5,322 Goldman Sachs Group Inc (NYSE:GS) shares with value of $1.11M were sold by COHEN ALAN M. SMITH SARAH G also sold $46,099 worth of Goldman Sachs Group Inc (NYSE:GS) on Friday, November 18. PALM GREGORY K also sold $314,665 worth of Goldman Sachs Group Inc (NYSE:GS) on Tuesday, November 15. 2,483 shares were sold by BLANKFEIN LLOYD C, worth $512,064. COHN GARY D sold $744,056 worth of stock or 3,566 shares.
More important recent Goldman Sachs Group Inc (NYSE:GS) news were published by: Wsj.com which released: “Goldman Sachs Drops Out of R3 Blockchain Group” on November 21, 2016, also Wsj.com published article titled: “Michael Sherwood Quits as Head of Goldman Sachs in Europe”, Bloomberg.com published: “Goldman Says Scope for OPEC Deal Makes Oil Short-Term Buy” on November 21, 2016. More interesting news about Goldman Sachs Group Inc (NYSE:GS) was released by: Seekingalpha.com and their article: “Goldman Sachs Fixed-To-Floating Rate Preferred Stock – An Antidote For Rising …” with publication date: November 23, 2016.
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.
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