Brave Asset Management Inc. Cuts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Brave Asset Management Inc. reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 19.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,947 shares of the investment management company’s stock after selling 701 shares during the quarter. The Goldman Sachs Group accounts for about 0.5% of Brave Asset Management Inc.’s holdings, making the stock its 25th largest holding. Brave Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $1,688,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GS. Quest Partners LLC lifted its holdings in 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 worth $29,000 after buying an additional 63 shares during the period. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $27,000. American Century Companies Inc. lifted its stake in The Goldman Sachs Group by 2.1% in the second quarter. American Century Companies Inc. now owns 86,108 shares of the investment management company’s stock worth $38,948,000 after acquiring an additional 1,747 shares during the period. One Capital Management LLC bought a new stake in The Goldman Sachs Group in the second quarter valued at $243,000. Finally, Moors & Cabot Inc. increased its position in The Goldman Sachs Group by 3.5% during the 2nd quarter. Moors & Cabot Inc. now owns 2,637 shares of the investment management company’s stock valued at $1,193,000 after purchasing an additional 88 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $569.00 to $608.00 in a research report on Tuesday, November 26th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Morgan Stanley increased their price objective 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. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average price target of $569.31.

The Goldman Sachs Group Trading Up 6.0 %

Shares of NYSE:GS opened at $605.89 on Thursday. The Goldman Sachs Group, Inc. has a 12-month low of $372.07 and a 12-month high of $612.73. The company has a market cap of $190.19 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The stock has a 50 day moving average of $585.67 and a 200 day moving average of $527.58. 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 posted its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company’s revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the business posted $5.48 earnings per share. As a group, equities research analysts expect that The Goldman Sachs Group, Inc. will post 37.06 EPS for the current year.

Insider Activity

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at $34,358,685.04. This represents a 10.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,940 shares of company stock worth $12,656,179 over the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.