Shorepath Capital Management LLC Sells 2,884 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Shorepath Capital Management LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 20,715 shares of the investment management company’s stock after selling 2,884 shares during the quarter. The Goldman Sachs Group makes up approximately 8.5% of Shorepath Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Shorepath Capital Management LLC’s holdings in The Goldman Sachs Group were worth $11,862,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GS. Wright Investors Service Inc. increased its position in shares of The Goldman Sachs Group by 0.7% in the fourth quarter. Wright Investors Service Inc. now owns 3,772 shares of the investment management company’s stock valued at $2,160,000 after acquiring an additional 26 shares during the last quarter. Benson Investment Management Company Inc. bought a new stake in shares of The Goldman Sachs Group during the 4th quarter worth approximately $5,905,000. Parisi Gray Wealth Management boosted its holdings in shares of The Goldman Sachs Group by 1.5% in the 4th quarter. Parisi Gray Wealth Management now owns 4,845 shares of the investment management company’s stock valued at $2,774,000 after buying an additional 70 shares during the last quarter. Pallas Capital Advisors LLC increased its holdings in The Goldman Sachs Group by 1.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,598 shares of the investment management company’s stock worth $915,000 after buying an additional 21 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its position in The Goldman Sachs Group by 149.2% during the fourth quarter. Miracle Mile Advisors LLC now owns 14,932 shares of the investment management company’s stock worth $8,551,000 after acquiring an additional 8,941 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GS shares. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. JMP Securities lifted their target price on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Barclays increased their price target on The Goldman Sachs Group from $588.00 to $713.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup boosted their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $569.31.

The Goldman Sachs Group Price Performance

Shares of GS opened at $563.75 on Tuesday. The firm has a market cap of $176.97 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 52-week low of $372.07 and a 52-week high of $612.73. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The business’s 50 day moving average price is $584.79 and its two-hundred day moving average price is $526.74.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The Goldman Sachs Group’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.47 EPS. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.06 EPS for the current year.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $610.91, for a total value of $4,001,460.50. Following the sale, the chief executive officer now directly owns 117,883 shares in the company, valued at $72,015,903.53. The trade was a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,940 shares of company stock worth $13,717,979. Insiders own 0.54% of the company’s stock.

About The Goldman Sachs Group

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.