Pzena Investment Management LLC Has $89.40 Million Position in The Goldman Sachs Group, Inc. $GS

Pzena Investment Management LLC reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,315 shares of the investment management company’s stock after selling 10,338 shares during the period. Pzena Investment Management LLC’s holdings in The Goldman Sachs Group were worth $89,399,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Dogwood Wealth Management LLC lifted its holdings in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock worth $26,000 after purchasing an additional 36 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $25,000. American Capital Advisory LLC acquired a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Ridgewood Investments LLC raised its holdings in The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 17 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 23 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $790.00 to $850.00 and gave the company a “market perform” rating in a report on Friday. Hsbc Global Res cut The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. HSBC lifted their price objective on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. UBS Group lifted their price objective on The Goldman Sachs Group from $762.00 to $805.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, JMP Securities reaffirmed a “market perform” rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus target price of $746.69.

Insiders Place Their Bets

In other news, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by company insiders.

The Goldman Sachs Group Trading Down 1.9%

Shares of GS opened at $765.14 on Monday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The business’s fifty day moving average is $760.79 and its 200-day moving average is $663.66. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $231.62 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.44 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the company posted $8.62 EPS. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

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.