The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 22.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,286 shares of the investment management company’s stock after selling 22,833 shares during the quarter. Wedge Capital Management L L P NC’s holdings in The Goldman Sachs Group were worth $38,265,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Semmax Financial Advisors Inc. acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $26,000. POM Investment Strategies LLC purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $26,000. Headlands Technologies LLC acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at $27,000. SJS Investment Consulting Inc. boosted its position in The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC increased its holdings in The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GS has been the subject of several analyst reports. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their target price on shares of The Goldman Sachs Group from $464.00 to $472.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. UBS Group lifted their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Barclays raised their target price on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $504.75.

The Goldman Sachs Group Stock Up 1.0 %

GS stock traded up $5.08 during midday trading on Monday, reaching $521.38. The company had a trading volume of 816,577 shares, compared to its average volume of 2,201,348. The company has a 50 day moving average of $493.06 and a two-hundred day moving average of $465.91. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $521.45. The company has a market capitalization of $168.13 billion, a P/E ratio of 20.16, a PEG ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.60 billion. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction on Tuesday, July 16th. The shares were 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 in the company, 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 can be accessed through this hyperlink. In related news, Director Thomas K. Montag sold 10,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian J. Lee sold 3,500 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 12,095 shares in the company, valued at $6,119,949.05. This trade represents 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.