The Goldman Sachs Group, Inc. $GS Shares Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lifted its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,457 shares of the investment management company’s stock after purchasing an additional 647 shares during the period. Sagespring Wealth Partners LLC’s holdings in The Goldman Sachs Group were worth $6,693,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $25,000. Dogwood Wealth Management LLC raised its position in shares of 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 valued at $26,000 after buying an additional 36 shares during the period. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its position in shares of The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after buying an additional 23 shares during the period. Finally, Ridgewood Investments LLC raised its position in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other news, COO John E. Waldron sold 9,244 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the sale, the chief operating officer owned 115,268 shares in the company, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the sale, the chief financial officer owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This trade represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research analyst reports. BMO Capital Markets initiated coverage on The Goldman Sachs Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research report on Tuesday, September 30th. Wells Fargo & Company boosted their target price on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Royal Bank Of Canada boosted their target price on The Goldman Sachs Group from $750.00 to $843.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Finally, HSBC boosted their target price on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $746.69.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $788.52 on Tuesday. The firm has a market capitalization of $238.70 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The business’s fifty day moving average price is $762.04 and its 200 day moving average price is $665.38. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25.

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