Advisors Asset Management Inc. Reduces Position in The Goldman Sachs Group, Inc.

Advisors Asset Management Inc. has decreased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.6% during the fourth quarter. This information is highlighted in their recent Form 13F filed with the Securities and Exchange Commission (SEC). After selling 3,398 shares in this period, the firm now holds 36,006 shares of the investment management company. As of the end of the last quarter, these shares are valued at approximately $20,618,000.

Recent Adjustments by Other Institutional Investors

Various institutional investors and hedge funds have also adjusted their positions in Goldman Sachs recently. For instance, Fisher Asset Management LLC increased its stake by 1.9% in the fourth quarter, now owning 6,155,336 shares valued at $3.52 billion after acquiring an additional 112,696 shares in the last quarter. Similarly, FMR LLC raised its position by 21.9% during the third quarter, now holding 2,898,637 shares worth $1.44 billion after picking up 521,054 additional shares.

Charles Schwab Investment Management Inc. also increased its stake by 1.2% in the fourth quarter, leading to a total of 1,936,853 shares valued at $1.11 billion after acquiring an additional 22,794 shares. Furthermore, UBS Asset Management Americas LLC raised its position by 1.1% in the third quarter, now owning 1,707,632 shares valued at $845.47 million after purchasing an additional 18,541 shares. Franklin Resources Inc. has also raised its holdings by 3.9% in the third quarter, bringing its total to 1,660,088 shares valued at $898.43 million after acquiring 62,246 additional shares. Overall, institutional investors and hedge funds control 71.21% of the stock.

Analyst Insights on Goldman Sachs

Goldman Sachs has been under review by several research analysts. For instance, Wells Fargo & Company reiterated an "overweight" rating for the stock on February 28. Meanwhile, JPMorgan Chase & Co. raised their price target from $550.00 to $605.00 and assigned an "overweight" rating in a note released on January 16. On the other hand, HSBC Global Research has downgraded the company from a "strong-buy" to a "hold" rating as of November 26. Additionally, UBS Group increased its price target from $610.00 to $640.00, maintaining a "neutral" rating as of January 21. Finally, Keefe, Bruyette & Woods downgraded the stock from an "outperform" to a "market perform" rating, reducing the price target from $690.00 to $660.00 on February 27. Currently, there are nine analysts who have given the stock a hold rating, while nine have rated it as a buy. The average rating is a "Moderate Buy" with a consensus price target of $594.27.

The Goldman Sachs Group Trading Update

The shares of NYSE:GS opened at $551.60 on a recent Tuesday. The company's market capitalization stands at $172.12 billion, with a P/E ratio of 13.60 and a P/E/G ratio of 0.89. Goldman Sachs has recorded a 1-year low of $383.41 and a high of $672.19. The company's debt-to-equity ratio is 2.32, alongside a current and quick ratio of 0.67. Currently, the 50-day simple moving average is $612.14, while the 200-day simple moving average sits at $567.52.

Earnings and Dividend Announcement

Goldman Sachs recently reported its earnings on January 15, revealing earnings per share (EPS) of $11.95 for the quarter. This was significantly above analysts' estimates of $8.21 per share. The company recorded revenue of $13.87 billion, surpassing the consensus estimate of $12.36 billion, and showing a year-over-year revenue increase of 22.5%. Additionally, during the recent quarterly assessment, the firm announced a quarterly dividend, scheduled to be paid on March 28. Shareholders of record on February 28 will receive a dividend of $3.00 per share, resulting in an annualized dividend of $12.00 and a yield of 2.18%.

Insider Activity at Goldman Sachs

In insider activity, Director Kevin R. Johnson purchased 2,400 shares of the company on January 17 at an average price of $619.02 per share, bringing the total value of this transaction to approximately $1.49 million. Following this purchase, he now owns shares valued at $1.49 million. Conversely, insider Kathryn H. Ruemmler sold 7,498 shares on January 21 at an average price of $634.69, with a total value of approximately $4.76 million, leading to a decrease in her position of 43.88%. Overall, insiders have sold 19,925 shares valued at about $12.63 million in the past quarter, with corporate insiders owning about 0.54% of the stock.

About The Goldman Sachs Group

Goldman Sachs Group, Inc. is a prominent financial institution that provides an array of financial services to corporations, financial institutions, governments, and individuals across the globe. The firm's operations are organized into various segments, including Global Banking & Markets, Asset & Wealth Management, and Platform Solutions. The Global Banking & Markets segment offers financial advisory services, including guidance on mergers and acquisitions, restructuring, and lending solutions.

management, investment, shares, stock, market