Asset Allocation & Management Company LLC Invests $322,000 in The Goldman Sachs Group, Inc. (NYSE:GS)

Asset Allocation & Management Company LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the fourth quarter, HoldingsChannel reports. The fund purchased 562 shares of the investment management company’s stock, valued at approximately $322,000.

Other institutional investors also recently bought and sold shares of the company. Procyon Advisors LLC raised its stake in The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after buying an additional 43 shares in the last quarter. Brookstone Capital Management raised its stake in The Goldman Sachs Group by 19.9% in the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock worth $2,268,000 after buying an additional 761 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in The Goldman Sachs Group in the second quarter worth about $5,529,000. Franklin Street Advisors Inc. NC increased its stake in shares of The Goldman Sachs Group by 8.1% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock valued at $21,934,000 after purchasing an additional 2,863 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of The Goldman Sachs Group by 30.3% during the fourth quarter. Nordea Investment Management AB now owns 213,605 shares of the investment management company’s stock valued at $122,453,000 after purchasing an additional 49,710 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

GS stock traded down $1.89 during mid-day trading on Monday, hitting $558.11. The company had a trading volume of 826,737 shares, compared to its average volume of 1,861,674. The company has a market capitalization of $175.20 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 0.85 and a beta of 1.38. 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 quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a 50-day moving average price of $583.74 and a 200 day moving average price of $525.91.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GS. JMP Securities raised their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Barclays raised their target price on shares of The Goldman Sachs Group from $588.00 to $713.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup raised their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Hsbc Global Res downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Morgan Stanley raised their price target on shares of 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. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $569.31.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,940 shares of company stock worth $13,717,979. 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.