Concord Wealth Partners Increases Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Concord Wealth Partners lifted its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,909 shares of the investment management company’s stock after buying an additional 163 shares during the period. Concord Wealth Partners’ holdings in The Goldman Sachs Group were worth $2,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GS. GAMMA Investing LLC lifted its stake in shares of The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock worth $2,172,423,000 after buying an additional 3,970,467 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of The Goldman Sachs Group in the first quarter worth approximately $1,766,238,000. Norges Bank bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $1,603,315,000. Castlekeep Investment Advisors LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $944,334,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in The Goldman Sachs Group by 214.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,294,084 shares of the investment management company’s stock valued at $741,018,000 after purchasing an additional 882,099 shares during the period. Institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada restated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Daiwa America downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Citigroup lowered their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $614.00.

The Goldman Sachs Group Stock Up 0.8%

Shares of GS stock opened at $707.84 on Thursday. The company has a market capitalization of $217.19 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.96 and a beta of 1.35. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $726.00. The company’s fifty day moving average price is $641.38 and its 200-day moving average price is $599.03. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data 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 the consensus estimate of $13.53 billion. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm earned $8.62 EPS. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS 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.