Pittenger & Anderson Inc. Cuts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Pittenger & Anderson Inc. cut its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 76.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,632 shares of the investment management company’s stock after selling 28,551 shares during the quarter. Pittenger & Anderson Inc.’s holdings in The Goldman Sachs Group were worth $3,330,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in The Goldman Sachs Group by 13.7% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 166,656 shares of the investment management company’s stock worth $64,291,000 after purchasing an additional 20,018 shares during the last quarter. HTLF Bank acquired a new stake in The Goldman Sachs Group during the 4th quarter worth about $850,000. Wealth Alliance lifted its holdings in shares of The Goldman Sachs Group by 17.3% during the fourth quarter. Wealth Alliance now owns 1,035 shares of the investment management company’s stock worth $399,000 after purchasing an additional 153 shares during the period. Trueblood Wealth Management LLC acquired a new position in The Goldman Sachs Group in the 4th quarter worth approximately $989,000. Finally, TBH Global Asset Management LLC lifted its stake in The Goldman Sachs Group by 2.0% during the 3rd quarter. TBH Global Asset Management LLC now owns 3,676 shares of the investment management company’s stock valued at $1,190,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

GS has been the subject of a number of research reports. Royal Bank of Canada boosted their target price on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 16th. HSBC raised their target price on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. BMO Capital Markets boosted their target price on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a research note on Tuesday, April 16th. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, UBS Group raised their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $434.93.

Insider Activity at The Goldman Sachs Group

In related news, Treasurer Philip R. Berlinski sold 11,650 shares of The Goldman Sachs Group stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the completion of the transaction, the treasurer now directly owns 18,408 shares in the company, valued at $7,190,901.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Goldman Sachs Group news, Treasurer Philip R. Berlinski sold 11,650 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the transaction, the treasurer now owns 18,408 shares in the company, valued at approximately $7,190,901.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now directly owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

The Goldman Sachs Group Trading Down 0.7 %

GS traded down $2.99 during trading hours on Thursday, reaching $420.05. The company’s stock had a trading volume of 1,966,142 shares, compared to its average volume of 2,386,643. The business’s 50-day moving average is $398.72 and its 200-day moving average is $368.96. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76. The stock has a market cap of $136.32 billion, a PE ratio of 16.30, a P/E/G ratio of 1.36 and a beta of 1.43. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $425.35.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm earned $8.79 EPS. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 35.39 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is 42.95%.

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.