Pinnacle West Asset Management Inc. Boosts Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Pinnacle West Asset Management Inc. grew its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,045 shares of the investment management company’s stock after purchasing an additional 270 shares during the period. The Goldman Sachs Group accounts for 1.7% of Pinnacle West Asset Management Inc.’s holdings, making the stock its 17th largest position. Pinnacle West Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $2,316,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Stephens Consulting LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Asset Planning Inc acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $29,000. Truvestments Capital LLC acquired a new position in shares of The Goldman Sachs Group in the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new position in shares of The Goldman Sachs Group in the 3rd quarter worth approximately $38,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Down 1.8 %

Shares of The Goldman Sachs Group stock opened at $614.86 on Wednesday. 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 fifty day simple moving average of $613.18 and a 200-day simple moving average of $560.79. The stock has a market cap of $191.86 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.89 and a beta of 1.39. The Goldman Sachs Group, Inc. has a 12-month low of $381.42 and a 12-month high of $672.19.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the prior year, the firm posted $5.48 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 22.5% on a year-over-year basis. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Kathryn H. Ruemmler sold 7,498 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total value of $4,758,905.62. Following the transaction, the insider now owns 9,589 shares of the company’s stock, valued at approximately $6,086,042.41. The trade was a 43.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Treasurer Carey Halio sold 1,545 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total transaction of $965,115.15. Following the completion of the transaction, the treasurer now directly owns 8,192 shares in the company, valued at $5,117,296.64. This represents a 15.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,475 shares of company stock worth $19,692,543. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GS has been the topic of several recent analyst reports. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $680.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $736.00 to $782.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $550.00 to $605.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Citigroup boosted their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $593.56.

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.