Park Avenue Securities LLC Grows Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Park Avenue Securities LLC lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 78.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,167 shares of the investment management company’s stock after acquiring an additional 4,480 shares during the quarter. Park Avenue Securities LLC’s holdings in The Goldman Sachs Group were worth $5,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its holdings in The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after acquiring an additional 7,475,140 shares during the period. FMR LLC lifted its position in shares of The Goldman Sachs Group by 21.9% during the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after purchasing an additional 521,054 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock valued at $200,959,000 after purchasing an additional 438,754 shares during the period. Janus Henderson Group PLC grew 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 in the last quarter. Finally, Congress Asset Management Co. increased its stake in The Goldman Sachs Group by 829.0% during the 3rd quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock worth $128,886,000 after buying an additional 232,297 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

GS has been the subject of several recent research reports. UBS Group reissued a “neutral” rating and issued a $610.00 price target on shares of The Goldman Sachs Group in a research report on Monday, January 6th. Morgan Stanley lifted their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Citigroup upped their price target 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. JPMorgan Chase & Co. lifted their price objective on The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, JMP Securities boosted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $569.31.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $605.89 on Thursday. The Goldman Sachs Group, Inc. has a 12 month low of $372.07 and a 12 month high of $612.73. The firm has a market capitalization of $190.19 billion, a P/E ratio of 17.78, a P/E/G ratio of 0.85 and a beta of 1.38. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $585.67 and its 200 day moving average price is $527.58.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same quarter last year, the company posted $5.48 earnings per share. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David M. Solomon sold 6,550 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares in the company, valued at $72,015,903.53. This represents a 5.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,940 shares of company stock valued at $12,656,179 over the last quarter. Company insiders own 0.54% of the company’s stock.

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.