Factory Mutual Insurance Co. Takes $23.37 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Factory Mutual Insurance Co. purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 47,200 shares of the investment management company’s stock, valued at approximately $23,369,000.

Several other institutional investors have also recently added to or reduced their stakes in GS. Brookstone Capital Management increased its holdings in shares of The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares during the period. Empowered Funds LLC raised its position in The Goldman Sachs Group by 62.7% during the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock worth $2,632,000 after buying an additional 2,428 shares during the last quarter. Duality Advisers LP acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $1,388,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after acquiring an additional 2,103 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in shares of The Goldman Sachs Group by 25.5% during the first quarter. Axxcess Wealth Management LLC now owns 12,013 shares of the investment management company’s stock worth $5,018,000 after acquiring an additional 2,442 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

GS has been the topic of a number of analyst reports. JMP Securities lifted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a report on Wednesday. Morgan Stanley increased their price objective on The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Barclays increased their price target on shares of The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $504.75.

The Goldman Sachs Group Price Performance

Shares of GS traded up $12.58 during trading hours on Friday, reaching $516.30. 2,409,660 shares of the company traded hands, compared to its average volume of 2,208,371. The stock has a market capitalization of $163.05 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The stock has a fifty day simple moving average of $493.06 and a 200 day simple moving average of $465.56. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.97. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.52 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas K. Montag sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.04, for a total transaction of $5,050,400.00. Following the transaction, the director now owns 12,450 shares in the company, valued at approximately $6,287,748. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.