Meyer Handelman Co. Has $11.99 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Meyer Handelman Co. lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,942 shares of the investment management company’s stock after purchasing an additional 92 shares during the period. Meyer Handelman Co.’s holdings in The Goldman Sachs Group were worth $11,992,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GS. Procyon Advisors LLC grew its stake in shares of 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 acquiring an additional 43 shares during the last quarter. Brookstone Capital Management increased its stake in The Goldman Sachs Group by 19.9% during the third quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after acquiring an additional 761 shares during the period. Granite Bay Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $5,529,000. Franklin Street Advisors Inc. NC increased its position 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 during the period. Finally, Nordea Investment Management AB boosted its stake in 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 worth $122,453,000 after buying an additional 49,710 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

GS opened at $571.46 on Wednesday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $179.39 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The company’s 50 day simple moving average is $585.67 and its 200-day simple moving average is $527.58. The Goldman Sachs Group, Inc. has a one year low of $372.07 and a one year high of $612.73.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same period last year, the company earned $5.48 EPS. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays lifted 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 report on Monday, January 6th. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Bank of America increased their target price on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. 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 research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $569.31.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction on 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 sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction on 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 completion of 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 22,940 shares of company stock valued at $13,717,979. 0.54% of the stock is currently owned by insiders.

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.