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

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

Other hedge funds also recently modified their holdings of the company. Winthrop Advisory Group LLC grew its holdings in shares of The Goldman Sachs Group by 3.4% during the second quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock worth $303,000 after buying an additional 14 shares in the last quarter. Mechanics Financial Corp grew its holdings in shares of The Goldman Sachs Group by 5.8% during the second quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock worth $208,000 after buying an additional 16 shares in the last quarter. Ridgewood Investments LLC grew its holdings in shares of The Goldman Sachs Group by 45.9% during the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after buying an additional 17 shares in the last quarter. Bank of Stockton grew its holdings in shares of The Goldman Sachs Group by 0.7% during the second quarter. Bank of Stockton now owns 2,485 shares of the investment management company’s stock worth $1,759,000 after buying an additional 17 shares in the last quarter. Finally, Western Financial Corp CA grew its holdings in shares of The Goldman Sachs Group by 0.5% during the second quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company’s stock worth $2,546,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In other news, COO John E. Waldron sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at $79,755,196.68. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David M. Solomon sold 6,608 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 38,323 shares of company stock valued at $28,111,828. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GS. Evercore ISI increased their price objective on The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Wells Fargo & Company raised their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft raised their price target on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Finally, JMP Securities restated a “market perform” rating and issued a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and an average price target of $746.69.

The Goldman Sachs Group Stock Performance

GS opened at $765.14 on Monday. The Goldman Sachs Group, Inc. has a 12-month low of $439.38 and a 12-month high of $825.25. The stock 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 business has a 50 day moving average of $760.79 and a 200-day moving average of $663.66. 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 (NYSE:GS) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the firm posted $8.62 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current 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.