Marcum Wealth LLC Cuts Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Marcum Wealth LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,710 shares of the investment management company’s stock after selling 123 shares during the quarter. Marcum Wealth LLC’s holdings in The Goldman Sachs Group were worth $2,124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group during the 2nd quarter worth $26,000. Headlands Technologies LLC acquired a new stake in The Goldman Sachs Group in the 2nd quarter valued at about $27,000. Quest Partners LLC boosted its stake in shares of The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares during the period. West Branch Capital LLC acquired a new position in shares of The Goldman Sachs Group during the third quarter worth about $30,000. Finally, DT Investment Partners LLC increased its stake in shares of The Goldman Sachs Group by 110.0% during the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after buying an additional 33 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the company’s 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,940 shares of company stock worth $13,717,979. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Evercore ISI lifted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Hsbc Global Res cut shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Morgan Stanley lifted their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their price objective for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $569.31.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $563.75 on Tuesday. The company’s 50 day simple moving average is $584.79 and its 200-day simple moving average is $526.74. 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 cap of $176.97 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period last year, the firm posted $5.47 EPS. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 37.06 EPS 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.