Pitcairn Co. Has $1.61 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Pitcairn Co. trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,243 shares of the investment management company’s stock after selling 421 shares during the period. Pitcairn Co.’s holdings in The Goldman Sachs Group were worth $1,606,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GS. POM Investment Strategies LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $26,000. Semmax Financial Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group in the second quarter valued at about $27,000. SJS Investment Consulting Inc. boosted its position in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after buying an additional 31 shares in the last quarter. Finally, Quest Partners LLC boosted its position in The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after buying an additional 63 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares in the company, valued at $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,390 shares of company stock worth $6,656,119. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GS shares. Bank of America boosted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup boosted their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday. Barclays boosted their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average target price of $542.00.

The Goldman Sachs Group Trading Up 1.1 %

GS opened at $602.78 on Friday. 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 company has a market cap of $189.22 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 0.87 and a beta of 1.35. The firm has a 50 day simple moving average of $529.52 and a 200 day simple moving average of $494.13. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.87 and a fifty-two week high of $607.15.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.47 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

The Goldman Sachs Group 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.