Atria Wealth Solutions Inc. Trims Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Atria Wealth Solutions Inc. reduced its stake in The Goldman Sachs Group by 54.2%, selling 7,655 shares and holding 6,474 shares valued at approximately $4.59 million at the end of Q2.
• CEO David M. Solomon and COO John E. Waldron sold significant amounts of their shares, with Solomon selling 6,608 shares for about $4.7 million and Waldron selling 9,244 shares for around $6.9 million.
• The Goldman Sachs Group's stock has seen a recent surge in analyst ratings, with target prices increased by firms like Citigroup and Royal Bank of Canada, now averaging $746.69 among analysts.

Atria Wealth Solutions Inc. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 54.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,474 shares of the investment management company's stock after selling 7,655 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in The Goldman Sachs Group were worth $4,590,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Winthrop Advisory Group LLC increased its holdings in The Goldman Sachs Group by 3.4% during the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company's stock worth $303,000 after purchasing an additional 14 shares during the period. Mechanics Financial Corp increased its holdings in The Goldman Sachs Group by 5.8% during the 2nd quarter. Mechanics Financial Corp now owns 294 shares of the investment management company's stock worth $208,000 after purchasing an additional 16 shares during the period. Ridgewood Investments LLC increased its holdings in The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares during the period. Bank of Stockton increased its holdings in The Goldman Sachs Group by 0.7% during the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock worth $1,759,000 after purchasing an additional 17 shares during the period. Finally, Western Financial Corp CA increased its holdings in The Goldman Sachs Group by 0.5% during the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock worth $2,546,000 after purchasing an additional 17 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Citigroup increased their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. HSBC increased their target price on The Goldman Sachs Group from $652.00 to $677.00 in a research report on Thursday, October 2nd. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $790.00 to $850.00 and gave the company a "market perform" rating in a research report on Friday. Finally, Royal Bank Of Canada increased their target price on The Goldman Sachs Group from $750.00 to $843.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 1st. Five investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $746.69.

Insider Buying and Selling

In other The Goldman Sachs Group news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO John E. Waldron sold 9,244 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total value of $6,934,016.84. Following the completion of the transaction, the chief operating officer owned 115,268 shares of the company's stock, valued at approximately $86,463,679.48. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,323 shares of company stock worth $28,111,828. Corporate insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $788.52 on Tuesday. The stock has a 50-day moving average of $762.04 and a two-hundred day moving average of $665.38. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $238.70 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.44 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the firm posted $8.62 EPS. The firm's revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Company 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.

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