Pzena Investment Management LLC Has $199.20 Million Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Pzena Investment Management LLC lowered its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 402,339 shares of the investment management company’s stock after selling 36,942 shares during the period. Pzena Investment Management LLC’s holdings in The Goldman Sachs Group were worth $199,202,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in The Goldman Sachs Group by 407.2% in the first quarter. Acadian Asset Management LLC now owns 421 shares of the investment management company’s stock valued at $175,000 after acquiring an additional 338 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of The Goldman Sachs Group by 56.1% in the 1st quarter. Bessemer Group Inc. now owns 21,780 shares of the investment management company’s stock valued at $9,097,000 after purchasing an additional 7,826 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $148,000. Shell Asset Management Co. acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $377,000. Finally, LGT Group Foundation raised its stake in shares of The Goldman Sachs Group by 11.9% during the first quarter. LGT Group Foundation now owns 7,185 shares of the investment management company’s stock worth $3,001,000 after buying an additional 764 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of a number of recent research reports. Evercore ISI raised their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased 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. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Oppenheimer increased their price objective on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, JMP Securities upped their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $535.75.

Insider Buying and Selling

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group 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 transaction, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. The trade was a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,390 shares of company stock valued at $6,656,119. 0.57% of the stock is owned by company insiders.

The Goldman Sachs Group Stock Performance

NYSE GS traded up $3.06 during trading on Wednesday, reaching $584.44. 348,487 shares of the company’s stock were exchanged, compared to its average volume of 2,216,020. 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 business has a 50 day moving average price of $522.37 and a 200-day moving average price of $491.32. The stock has a market capitalization of $183.46 billion, a P/E ratio of 17.15, a PEG ratio of 0.86 and a beta of 1.35. The Goldman Sachs Group, Inc. has a fifty-two week low of $334.55 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, 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 during the quarter, compared to the consensus estimate of $11.77 billion. During the same period last year, the business posted $5.47 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.05%. 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 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.