Pines Wealth Management LLC Takes $1.53 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Pines Wealth Management LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,725 shares of the investment management company’s stock, valued at approximately $1,526,000.

Other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC grew its holdings in The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. FMR LLC boosted its holdings in The Goldman Sachs Group by 21.9% during the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after acquiring an additional 521,054 shares during the last quarter. 1832 Asset Management L.P. grew its stake in shares of The Goldman Sachs Group by 7,932.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after acquiring an additional 438,754 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of The Goldman Sachs Group by 154.7% in the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock valued at $205,403,000 after purchasing an additional 251,972 shares during the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of The Goldman Sachs Group by 829.0% in the third quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock valued at $128,886,000 after purchasing an additional 232,297 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GS. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup increased their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods raised their target price on The Goldman Sachs Group from $570.00 to $686.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Morgan Stanley upped their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $569.31.

Insider Activity

In related news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 22,940 shares of company stock valued at $13,717,979. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

GS opened at $571.46 on Wednesday. The stock has a market capitalization of $179.39 billion, a P/E ratio of 16.77, a PEG ratio of 0.85 and a beta of 1.38. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 12-month low of $372.07 and a 12-month high of $612.73. The stock has a 50-day moving average price of $585.67 and a 200-day moving average price of $527.58.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $5.47 earnings per share. Equities analysts predict that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current fiscal year.

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.