Gateway Investment Advisers LLC Cuts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Gateway Investment Advisers LLC lessened its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,060 shares of the investment management company’s stock after selling 89 shares during the quarter. Gateway Investment Advisers LLC’s holdings in The Goldman Sachs Group were worth $2,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GS. American Trust bought a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $272,000. WNY Asset Management LLC raised its stake in The Goldman Sachs Group by 1.6% during the fourth quarter. WNY Asset Management LLC now owns 1,627 shares of the investment management company’s stock valued at $628,000 after purchasing an additional 26 shares in the last quarter. Scarborough Advisors LLC bought a new position in The Goldman Sachs Group during the fourth quarter valued at $57,000. Sierra Summit Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter worth $285,000. Finally, EP Wealth Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 25.4% in the 4th quarter. EP Wealth Advisors LLC now owns 3,649 shares of the investment management company’s stock worth $1,408,000 after buying an additional 740 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GS. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Evercore ISI raised their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Citigroup upped their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, Morgan Stanley upped their target price on The Goldman Sachs Group from $513.00 to $561.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $504.75.

The Goldman Sachs Group Trading Up 2.5 %

Shares of The Goldman Sachs Group stock opened at $516.30 on Friday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $493.06 and its 200-day simple moving average is $465.56. The stock has a market cap of $163.05 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $517.97.

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

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.99, for a total value of $1,770,965.00. Following the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $6,119,949.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction on 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 sale, the insider now owns 12,095 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 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 value of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

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.