114,994 The Goldman Sachs Group, Inc. $GS Shares Sold by First County Bank CT

Key Points

• First County Bank CT cut its Goldman Sachs stake by 99.6% in the third quarter, selling 114,994 shares and retaining 453 shares valued at approximately $408,000. Institutional investors collectively own 71.21% of the company.
• Goldman Sachs reported a strong quarter, with EPS of $17.01 beating estimates by $4.15 and revenue of $18.68 billion rising 23% year over year. Equities-trading revenue surged 72%, while fixed-income trading was weaker and total revenue declined sequentially from the second quarter.
• The stock traded around $896.51, below its 50-day and 200-day moving averages, while analysts maintained an overall “Hold” rating with an average price target of $1,055.09.

First County Bank CT trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 99.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453 shares of the investment management company's stock after selling 114,994 shares during the period. First County Bank CT's holdings in The Goldman Sachs Group were worth $408,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sax Wealth Advisors LLC boosted its position in shares of The Goldman Sachs Group by 27.7% during the 3rd quarter. Sax Wealth Advisors LLC now owns 4,508 shares of the investment management company's stock valued at $4,059,000 after acquiring an additional 979 shares during the last quarter. Terra Nova Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 2.2% in the third quarter. Terra Nova Asset Management LLC now owns 2,762 shares of the investment management company's stock valued at $2,487,000 after purchasing an additional 59 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in The Goldman Sachs Group by 1.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 43,525 shares of the investment management company's stock worth $38,415,000 after purchasing an additional 658 shares during the last quarter. jvl associates llc increased its position in The Goldman Sachs Group by 10.8% in the third quarter. jvl associates llc now owns 267 shares of the investment management company's stock worth $240,000 after purchasing an additional 26 shares during the last quarter. Finally, Atlas Brown Inc. raised its stake in The Goldman Sachs Group by 27.1% during the third quarter. Atlas Brown Inc. now owns 910 shares of the investment management company's stock valued at $820,000 after purchasing an additional 194 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Trading Up 0.3%

NYSE:GS traded up $2.56 during mid-day trading on Tuesday, hitting $896.51. 2,813,204 shares of the stock traded hands, compared to its average volume of 2,202,291. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group, Inc. has a 52 week low of $740.01 and a 52 week high of $1,153.99. The stock has a market capitalization of $261.04 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.98 and a beta of 1.29. The firm's 50 day moving average is $987.67 and its two-hundred day moving average is $988.75.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, beating analysts' consensus estimates of $12.86 by $4.15. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%. The firm had revenue of $18.68 billion for the quarter, compared to analysts' expectations of $16.83 billion. During the same quarter in the prior year, the firm posted $12.25 earnings per share. The company's quarterly revenue was up 23.0% on a year-over-year basis. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 67.48 earnings per share for the current year.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Large earnings beat: Goldman reported diluted EPS of $17.01 versus the $12.86 consensus estimate, while net revenue rose 23% year over year to $18.68 billion, ahead of expectations of $16.83 billion. Net earnings climbed 29% to $5.29 billion. Goldman Sachs quarterly profit rises on equities strength
• Positive Sentiment: Equities trading surged: Equities revenue jumped 72% to $6.44 billion, exceeding Wall Street forecasts and becoming the main catalyst for the quarter’s outperformance. Goldman’s Stock Traders Made $6.4 Billion in 3 Months
• Positive Sentiment: Investment banking improved: Investment-banking fees increased 21% as underwriting activity strengthened, helping offset softer merger-and-acquisition activity. Global Banking & Markets generated $13.46 billion in revenue.
• Positive Sentiment: Capital returns supported sentiment: Goldman declared a $5.00-per-share dividend payable December 30 and returned $4.49 billion to common shareholders during the quarter, including $3.00 billion in share repurchases. Goldman Sachs Q3 Revenue Rises 23%
• Neutral Sentiment: Mixed trading performance: Fixed-income and rates-trading revenue fell well short of analyst estimates, creating a notable contrast with the equities desk’s strength. Goldman Beats on Equity Trading as Fixed Income Falls Short
• Negative Sentiment: Sequential momentum softened: Total revenue declined 8% from the second quarter, and operating expenses rose 20% year over year to $11.31 billion. Investors may also remain cautious because the stock had recently fallen about 15% over three months despite strong underlying results.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 15th. Citigroup reduced their target price on shares of The Goldman Sachs Group from $1,200.00 to $1,050.00 and set a "neutral" rating on the stock in a report on Wednesday, September 23rd. Rothschild & Co Redburn upped their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a research report on Thursday, June 25th. BMO Capital Markets dropped their price target on The Goldman Sachs Group from $972.00 to $970.00 and set a "market perform" rating for the company in a research report on Tuesday, October 6th. Finally, Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $1,055.09.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.

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