Pzena Investment Management LLC Sells 268,930 Shares of The Goldman Sachs Group, Inc. (NYSE:GS)

Pzena Investment Management LLC lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 66.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,409 shares of the investment management company’s stock after selling 268,930 shares during the period. Pzena Investment Management LLC’s holdings in The Goldman Sachs Group were worth $76,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stephens Consulting LLC bought a new stake in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $29,000. Whipplewood Advisors LLC purchased a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $34,000. Kohmann Bosshard Financial Services LLC purchased a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $37,000. Finally, Truvestments Capital LLC purchased a new position in The Goldman Sachs Group during the third quarter valued at approximately $34,000. Institutional investors own 71.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Oppenheimer cut their price objective on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Barclays lifted their price objective on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $690.00 to $660.00 in a report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average price target of $591.69.

Insider Activity

In related news, insider Kathryn H. Ruemmler sold 7,498 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total transaction of $4,758,905.62. Following the completion of the transaction, the insider now directly owns 9,589 shares in the company, valued at $6,086,042.41. The trade was a 43.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the transaction, the treasurer now owns 8,192 shares of the company’s stock, valued at $5,117,296.64. This represents a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,925 shares of company stock valued at $12,630,683 over the last ninety days. 0.54% of the stock is currently owned by insiders.

The Goldman Sachs Group Price Performance

Shares of GS opened at $531.75 on Tuesday. The firm has a market capitalization of $165.93 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. 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, Inc. has a 1-year low of $381.42 and a 1-year high of $672.19. The company’s fifty day moving average price is $616.13 and its 200-day moving average price is $566.49.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The firm had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.48 earnings per share. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 29.59%.

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.