Pittenger & Anderson Inc. Expands Investment in Goldman Sachs

Pittenger & Anderson Inc. has notably increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by an impressive 79.0% during the fourth quarter, according to their latest filing with the Securities and Exchange Commission. After acquiring an additional 6,792 shares, the firm now owns a total of 15,394 shares in the prominent investment management company. As per the most recent filing, Pittenger & Anderson Inc.'s investment in The Goldman Sachs Group is valued at approximately $8,815,000.

Institutional Investment Trends

Several other institutional investors have also made moves to acquire or sell shares of The Goldman Sachs Group. For instance, Stephens Consulting LLC entered a new stake in the company during the fourth quarter, valued at around $26,000. Meanwhile, Asset Planning Inc. purchased a new stake valued at about $29,000. In the third quarter, West Branch Capital LLC acquired a stake valued at about $30,000. DT Investment Partners LLC increased its position by 110.0% during the same period, now owning 63 shares valued at $31,000 after buying an additional 33 shares. Additionally, in the third quarter, Truvestments Capital LLC bought a new stake in shares of Goldman Sachs, worth around $34,000. Notably, institutional investors collectively own 71.21% of the company's stock.

Analysts' Outlook on Goldman Sachs

Market analysts have recently expressed varying forecasts regarding The Goldman Sachs Group. Oppenheimer reduced their price target from $677.00 to $639.00 and maintained an "outperform" rating. Conversely, Barclays increased its price target from $713.00 to $760.00 and gave an "overweight" rating. JPMorgan Chase & Co. raised their target from $550.00 to $605.00, also providing an "overweight" rating. Additionally, Morgan Stanley revised their price target upward from $736.00 to $782.00 and affirmed their "overweight" rating. HSBC Global Research, however, changed its recommendation, lowering the company's rating from "strong-buy" to "hold". Currently, eight analysts have rated the stock with a hold rating, while twelve have assigned a buy rating. According to MarketBeat.com, The Goldman Sachs Group holds an average rating of "Moderate Buy" and an average target price of $591.06.

Recent Insider Transactions

In related news, CEO David M. Solomon sold 6,550 shares on November 29th, which amounted to a total value of $4,001,460.50 at an average price of $610.91 per share. Following this transaction, Solomon retains ownership of 117,883 shares valued at approximately $72,015,903.53, representing a 5.26% decrease in ownership. Director David A. Viniar also sold 5,000 shares on the same day for $3,060,400.00 at an average price of $612.08 per share. After the sale, Viniar directly owns 608,425 shares valued at around $372,404,774, marking a 0.82% reduction in position. Over the last ninety days, insiders have sold a total of 31,475 shares valued at $19,692,543, with company insiders owning approximately 0.54% of the stock.

Stock Performance and Financial Results

The Goldman Sachs Group's stock performance has recently seen an uptick of 1.9%. On Monday, the stock opened at $661.56, with a fifty-day moving average of $605.16 and a two-hundred-day moving average of $552.61. The company has a market cap of $205.38 billion, a price-to-earnings ratio of 16.31, and a debt-to-equity ratio of 2.32. In its last quarterly earnings report on January 15th, The Goldman Sachs Group reported earnings of $11.95 per share, surpassing analysts' expectations of $8.21 by $3.74. This represented a 22.5% revenue increase compared to the same quarter last year, with total revenues of $13.87 billion.

Dividend Announcement

The Goldman Sachs Group has also announced a quarterly dividend of $3.00 per share, which will be paid on March 28th, with an ex-dividend date set for February 28th. This yields an annualized dividend of $12.00, representing a yield of 1.81%. Currently, the company's payout ratio is about 29.59%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc. is a leading financial institution that offers a range of financial services to corporations, financial institutions, governments, and individuals. Its operations are categorized into several segments including Global Banking & Markets, Asset & Wealth Management, and Platform Solutions, which provide a spectrum of services ranging from financial advisory in mergers and acquisitions to relationship lending and structured credit.

Investment, Shares, Stocks, Finance, Management