Fortitude Family Office LLC Increases Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Fortitude Family Office LLC raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,964 shares of the investment management company’s stock after purchasing an additional 45 shares during the quarter. Fortitude Family Office LLC’s holdings in The Goldman Sachs Group were worth $1,124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Mizuho Securities USA LLC lifted its holdings in The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after purchasing an additional 7,475,140 shares in the last quarter. FMR LLC lifted its holdings in shares of The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after buying an additional 521,054 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after buying an additional 438,754 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of The Goldman Sachs Group by 154.7% in the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock valued at $205,403,000 after acquiring an additional 251,972 shares during the period. Finally, Congress Asset Management Co. grew its stake in The Goldman Sachs Group by 829.0% during the third quarter. Congress Asset Management Co. now owns 260,317 shares of the investment management company’s stock valued at $128,886,000 after acquiring an additional 232,297 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $579.48 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a market cap of $181.90 billion, a PE ratio of 17.00, a PEG ratio of 0.85 and a beta of 1.38. The company’s fifty day moving average is $582.92 and its 200 day moving average is $524.27. The Goldman Sachs Group, Inc. has a 52 week low of $372.07 and a 52 week high of $612.73.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on GS shares. Barclays raised their price target on shares of The Goldman Sachs Group from $588.00 to $713.00 and gave the company an “overweight” rating in a report on Monday. Oppenheimer dropped their price objective on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America upped their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $569.31.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the company’s 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 transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,940 shares of company stock worth $13,717,979. 0.54% of the stock is currently owned by insiders.

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.