Lebenthal Global Advisors LLC Reduces Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Lebenthal Global Advisors LLC lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 38.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 732 shares of the investment management company’s stock after selling 460 shares during the period. Lebenthal Global Advisors LLC’s holdings in The Goldman Sachs Group were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. West Branch Capital LLC purchased a new position in The Goldman Sachs Group during the third quarter valued at approximately $30,000. DT Investment Partners LLC boosted its holdings in The Goldman Sachs Group by 110.0% during the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after buying an additional 33 shares in the last quarter. Truvestments Capital LLC acquired a new stake in The Goldman Sachs Group during the third quarter valued at $34,000. Country Trust Bank purchased a new position in The Goldman Sachs Group in the third quarter valued at $37,000. Finally, Capital Performance Advisors LLP acquired a new position in The Goldman Sachs Group in the 3rd quarter worth about $38,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,034 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the sale, the chief accounting officer now owns 6,455 shares of the company’s stock, valued at $4,047,349.55. The trade was a 23.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,498 shares of the stock in a transaction that occurred 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 owns 9,589 shares of the company’s stock, valued at $6,086,042.41. This trade represents a 43.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,017 shares of company stock valued at $19,655,538 in the last quarter. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $632.13 on Tuesday. The Goldman Sachs Group, Inc. has a one year low of $374.24 and a one year high of $645.54. The stock has a market cap of $198.43 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.38. The business’s fifty day moving average price is $591.21 and its two-hundred day moving average price is $536.52. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The firm had revenue of $13.87 billion during 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 Goldman Sachs Group’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.48 earnings per share. On average, analysts forecast that The Goldman Sachs Group, Inc. will post 46.81 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Bank of America lifted their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer reduced their price target on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Morgan Stanley lifted their price target on The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Evercore ISI lifted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $591.06.

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.