Welch Group LLC Has $11.61 Million Holdings in The Goldman Sachs Group, Inc. $GS

Welch Group LLC boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,404 shares of the investment management company’s stock after purchasing an additional 501 shares during the period. Welch Group LLC’s holdings in The Goldman Sachs Group were worth $11,610,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Winthrop Advisory Group LLC lifted its holdings in The Goldman Sachs Group by 3.4% in the second quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock valued at $303,000 after acquiring an additional 14 shares during the period. Mechanics Financial Corp increased its position in The Goldman Sachs Group by 5.8% during the 2nd quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock worth $208,000 after purchasing an additional 16 shares in the last quarter. Ridgewood Investments LLC increased its position in 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 worth $38,000 after purchasing an additional 17 shares in the last quarter. Bank of Stockton boosted its stake in The Goldman Sachs Group by 0.7% in the 2nd 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 during the last quarter. Finally, Western Financial Corp CA boosted its stake in The Goldman Sachs Group by 0.5% in the 2nd 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 during the last quarter. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In related news, EVP John F.W. Rogers sold 6,008 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares in the company, valued at $47,176,283.79. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, 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. Insiders have sold 38,323 shares of company stock worth $28,111,828 over the last 90 days. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $765.14 on Monday. 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 firm has a market cap of $231.62 billion, a P/E ratio of 16.86, a PEG ratio of 1.44 and a beta of 1.42. The stock’s 50-day moving average is $760.79 and its two-hundred day moving average is $663.66. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The business 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 firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.62 EPS. Analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GS shares. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Citigroup lifted their price objective on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Royal Bank Of Canada lifted their price objective on The Goldman Sachs Group from $750.00 to $843.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. BMO Capital Markets started coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price target for the company. Finally, HSBC boosted their price objective 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $746.69.

The Goldman Sachs Group Company 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.