Wittenberg Investment Management Inc. Lowers Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Wittenberg Investment Management Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,504 shares of the investment management company’s stock after selling 125 shares during the period. Wittenberg Investment Management Inc.’s holdings in The Goldman Sachs Group were worth $1,240,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Mizuho Securities USA LLC grew its stake in The Goldman Sachs Group by 30,068.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after acquiring an additional 7,475,140 shares during the period. Fisher Asset Management LLC grew its position in shares of The Goldman Sachs Group by 2.7% in the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after purchasing an additional 161,133 shares during the period. Legal & General Group Plc increased its stake in shares of The Goldman Sachs Group by 2.9% during the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after purchasing an additional 77,700 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after purchasing an additional 68,141 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in The Goldman Sachs Group by 0.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 998,136 shares of the investment management company’s stock valued at $494,187,000 after buying an additional 4,007 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,390 shares of company stock valued at $6,656,119. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley increased their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. UBS Group raised their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays boosted their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $542.00.

The Goldman Sachs Group Trading Up 1.1 %

NYSE GS opened at $602.78 on Monday. The Goldman Sachs Group, Inc. has a 12 month low of $334.87 and a 12 month high of $607.15. The stock has a market capitalization of $189.22 billion, a P/E ratio of 17.69, a PEG ratio of 0.88 and a beta of 1.35. The firm’s 50-day moving average is $529.52 and its two-hundred day moving average is $494.47. 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 Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the prior year, the business posted $5.47 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

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.