Independence Bank of Kentucky Reduces Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Independence Bank of Kentucky cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 12.9% during the 3rd quarter, Holdings Channel reports. The fund owned 1,517 shares of the investment management company’s stock after selling 225 shares during the period. Independence Bank of Kentucky’s holdings in The Goldman Sachs Group were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. Fisher Asset Management LLC boosted its position in shares of The Goldman Sachs Group by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock worth $2,127,944,000 after purchasing an additional 150,532 shares during the period. International Assets Investment Management LLC bought a new stake in The Goldman Sachs Group during the first quarter valued at about $1,903,374,000. Legal & General Group Plc lifted its position in shares of The Goldman Sachs Group by 2.9% in the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after acquiring an additional 77,700 shares in the last quarter. Wellington Management Group LLP grew its position in shares of The Goldman Sachs Group by 27.0% during the fourth quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after purchasing an additional 464,954 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after purchasing an additional 68,141 shares during the period. Institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of a number of research analyst reports. UBS Group increased their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Finally, Citigroup lifted their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” 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 stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $504.75.

Insider Activity at The Goldman Sachs Group

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

The Goldman Sachs Group Trading Up 2.5 %

GS opened at $516.30 on Friday. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $517.97. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $163.05 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.77 and a beta of 1.36. The stock’s 50 day moving average price is $493.06 and its 200-day moving average price is $465.15.

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

The Goldman Sachs Group 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.