Mechanics Financial Corp Purchases 135 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Mechanics Financial Corp raised its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 94.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 278 shares of the investment management company’s stock after buying an additional 135 shares during the period. Mechanics Financial Corp’s holdings in The Goldman Sachs Group were worth $152,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GS. American Capital Advisory LLC purchased a new stake in The Goldman Sachs Group during the first quarter valued at about $29,000. Curio Wealth LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at about $30,000. Godsey & Gibb Inc. boosted its position in The Goldman Sachs Group by 170.0% during the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after buying an additional 34 shares during the period. Transce3nd LLC purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at about $31,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in The Goldman Sachs Group during the fourth quarter valued at about $31,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GS shares. Daiwa Capital Markets lowered shares of The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price target for the company. in a research report on Friday, April 4th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. JMP Securities reiterated a “market perform” rating and set a $600.00 target price on shares of The Goldman Sachs Group in a report on Monday. Morgan Stanley reiterated an “equal weight” rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Finally, Barclays dropped their target price on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average price target of $614.00.

The Goldman Sachs Group Price Performance

GS stock opened at $702.28 on Wednesday. The Goldman Sachs Group, Inc. has a 1 year low of $437.37 and a 1 year high of $726.00. The company has a market cap of $215.49 billion, a P/E ratio of 16.30, a PEG ratio of 0.97 and a beta of 1.35. The firm has a 50-day moving average of $638.26 and a 200 day moving average of $598.28. The company has a debt-to-equity ratio of 2.41, a current ratio of 0.68 and a quick ratio of 0.68.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. On average, sell-side analysts forecast 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.