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

Pitcairn Co. decreased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The firm 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 large investors have also added to or reduced their stakes in the business. Semmax Financial Advisors Inc. bought a new stake in The Goldman Sachs Group during the second quarter worth $26,000. POM Investment Strategies LLC bought a new stake in The Goldman Sachs Group during the second quarter worth $26,000. Headlands Technologies LLC bought a new stake in The Goldman Sachs Group during the second quarter worth $27,000. SJS Investment Consulting Inc. raised its position in shares of 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 purchasing an additional 31 shares during the period. Finally, West Branch Capital LLC bought a new position in shares of The Goldman Sachs Group in the third quarter valued at about $30,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 1.1 %

GS opened at $602.78 on Friday. The company’s 50 day moving average is $529.52 and its 200-day moving average is $494.13. The Goldman Sachs Group, Inc. has a 1-year low of $334.87 and a 1-year high of $607.15. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market cap of $189.22 billion, a P/E ratio of 17.69, a PEG ratio of 0.87 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $5.47 EPS. Equities research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm 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 $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 1.99%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Activity at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,416 shares of the firm’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 value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’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 transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock worth $6,656,119 in the last quarter. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GS has been the topic of several research analyst reports. JMP Securities increased their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group increased their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $542.00.

About The Goldman Sachs Group

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.