RNC Capital Management LLC Sells 536 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)


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RNC Capital Management LLC decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 33.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,065 shares of the investment management company’s stock after selling 536 shares during the period. RNC Capital Management LLC’s holdings in The Goldman Sachs Group were worth $281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its position in The Goldman Sachs Group by 8.7% during the second quarter. FMR LLC now owns 1,780,416 shares of the investment management company’s stock worth $351,847,000 after buying an additional 143,109 shares during the period. Rockbridge Investment Management LCC bought a new stake in The Goldman Sachs Group in the second quarter valued at approximately $81,000. Stephens Inc. AR lifted its position in The Goldman Sachs Group by 6.9% in the second quarter. Stephens Inc. AR now owns 14,161 shares of the investment management company’s stock valued at $2,798,000 after purchasing an additional 919 shares during the last quarter. Nuveen Asset Management LLC lifted its position in The Goldman Sachs Group by 4.4% in the second quarter. Nuveen Asset Management LLC now owns 1,913,725 shares of the investment management company’s stock valued at $378,190,000 after purchasing an additional 81,283 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new stake in The Goldman Sachs Group in the second quarter valued at approximately $14,653,000. Institutional investors own 65.67% of the company’s stock.

Several analysts have weighed in on GS shares. Bank of America boosted their price objective on The Goldman Sachs Group from $246.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, October 15th. UBS Group raised The Goldman Sachs Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $220.00 to $245.00 in a research note on Wednesday, September 23rd. Wells Fargo & Company reissued a “buy” rating on shares of The Goldman Sachs Group in a research note on Monday, December 21st. Piper Sandler boosted their target price on The Goldman Sachs Group from $270.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Oppenheimer boosted their target price on The Goldman Sachs Group from $348.00 to $366.00 and gave the company an “outperform” rating in a research note on Thursday, December 3rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The Goldman Sachs Group presently has an average rating of “Buy” and an average target price of $275.67.

NYSE GS opened at $302.94 on Thursday. The firm’s 50 day moving average price is $254.13 and its two-hundred day moving average price is $217.15. The stock has a market cap of $104.23 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.12 and a beta of 1.48. The Goldman Sachs Group, Inc. has a twelve month low of $130.85 and a twelve month high of $303.98. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.73 and a current ratio of 0.73.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 20th. The investment management company reported $9.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.57 by $4.11. The company had revenue of $10.70 billion during the quarter, compared to analyst estimates of $9.40 billion. The Goldman Sachs Group had a net margin of 16.65% and a return on equity of 11.23%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter last year, the business posted $4.79 EPS. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 19.03 EPS for the current fiscal year.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The company's Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and middle-market lending, relationship lending, and acquisition financing, as well as transaction banking services.

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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