Pennsylvania Trust Co lowered its stake in shares of Goldman Sachs Group Inc (NYSE:GS) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,841 shares of the investment management company’s stock after selling 65 shares during the quarter. Pennsylvania Trust Co’s holdings in Goldman Sachs Group were worth $796,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in GS. Bell & Brown Wealth Advisors LLC grew its position in shares of Goldman Sachs Group by 1.5% during the third quarter. Bell & Brown Wealth Advisors LLC now owns 9,698 shares of the investment management company’s stock worth $1,973,000 after acquiring an additional 141 shares during the last quarter. Northwest Bancshares Inc. grew its position in shares of Goldman Sachs Group by 2.1% during the third quarter. Northwest Bancshares Inc. now owns 13,294 shares of the investment management company’s stock worth $2,754,000 after acquiring an additional 272 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Goldman Sachs Group during the third quarter worth approximately $122,000. Advantage Investment Management LLC purchased a new position in shares of Goldman Sachs Group during the third quarter worth approximately $29,000. Finally, Hennessy Advisors Inc. grew its position in Goldman Sachs Group by 650.0% in the 3rd quarter. Hennessy Advisors Inc. now owns 7,500 shares of the investment management company’s stock valued at $1,554,000 after buying an additional 6,500 shares during the last quarter. 68.66% of the stock is currently owned by institutional investors.
NYSE:GS opened at $199.87 on Friday. The company has a market capitalization of $70.97 billion, a PE ratio of 7.91, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.78. Goldman Sachs Group Inc has a 52-week low of $151.70 and a 52-week high of $234.06. The stock has a fifty day simple moving average of $206.36 and a 200-day simple moving average of $202.72.
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $1.25 dividend. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $5.00 annualized dividend and a yield of 2.50%. Goldman Sachs Group’s payout ratio is presently 19.79%.
GS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upgraded shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $225.00 to $260.00 in a research report on Friday, July 26th. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 price objective on the stock in a research report on Tuesday, June 25th. TheStreet upgraded shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $240.00 price objective on shares of Goldman Sachs Group in a research report on Wednesday, July 17th. Finally, Deutsche Bank reiterated a “buy” rating on shares of Goldman Sachs Group in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $240.92.
In related news, EVP Dane E. Holmes sold 3,165 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $212.15, for a total value of $671,454.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.41% of the company’s stock.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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