Hazlett Burt & Watson Inc. Boosts Stake in The Goldman Sachs Group, Inc. $GS

Hazlett Burt & Watson Inc. lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 60.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,602 shares of the investment management company’s stock after purchasing an additional 604 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in The Goldman Sachs Group were worth $1,133,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its stake in shares of The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock valued at $286,418,000 after buying an additional 116,535 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in The Goldman Sachs Group during the first quarter worth $321,000. Blueshift Asset Management LLC boosted its position in The Goldman Sachs Group by 161.8% during the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock worth $576,000 after purchasing an additional 652 shares in the last quarter. Adams Diversified Equity Fund Inc. boosted its position in The Goldman Sachs Group by 41.5% during the first quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company’s stock worth $27,205,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Terra Nova Asset Management LLC purchased a new stake in The Goldman Sachs Group during the first quarter worth $1,643,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JMP Securities reiterated a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Citizens Jmp reiterated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. HSBC boosted their target price on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Wall Street Zen upgraded The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Citigroup boosted their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $746.69.

Insiders Place Their Bets

In related news, EVP John F.W. Rogers sold 6,008 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was 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 directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David M. Solomon sold 6,608 shares of the company’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares of the company’s stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Down 1.9%

Shares of NYSE:GS opened at $765.14 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The stock’s fifty day simple moving average is $760.79 and its 200-day simple moving average is $663.66. The company has a market capitalization of $231.62 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.44 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data 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 business had revenue of $14.58 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business earned $8.62 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal 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.