Klingenstein Fields & Co. LP Lowers Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Klingenstein Fields & Co. LP decreased its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,656 shares of the investment management company's stock after selling 904 shares during the period. The Goldman Sachs Group comprises 2.0% of Klingenstein Fields & Co. LP's investment portfolio, making the stock its 15th biggest position. Klingenstein Fields & Co. LP's holdings in The Goldman Sachs Group were worth $46,247,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GS. Curio Wealth LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at $30,000. Mascagni Wealth Management Inc. acquired a new position in The Goldman Sachs Group during the fourth quarter worth $31,000. Transce3nd LLC purchased a new position in The Goldman Sachs Group during the fourth quarter valued at $31,000. Godsey & Gibb Inc. grew its position in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after purchasing an additional 34 shares during the period. Finally, Lowe Wealth Advisors LLC increased its stake in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

Insider Buying and Selling

In related news, Director John B. Hess purchased 3,904 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was acquired at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the completion of the transaction, the director directly owned 3,904 shares in the company, valued at approximately $1,997,598.72. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.55% of the stock is owned by insiders.

The Goldman Sachs Group Trading Up 1.2%

Shares of NYSE GS traded up $8.75 during midday trading on Wednesday, reaching $715.21. 2,905,766 shares of the stock were exchanged, compared to its average volume of 2,390,196. The stock has a market capitalization of $219.46 billion, a P/E ratio of 16.60, a PEG ratio of 0.97 and a beta of 1.35. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68. The company has a 50 day simple moving average of $606.17 and a 200 day simple moving average of $588.74. The Goldman Sachs Group, Inc. has a twelve month low of $437.37 and a twelve month high of $718.68.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%. The company had revenue of $15.06 billion during the quarter, compared to analysts' expectations of $14.99 billion. During the same quarter last year, the firm earned $11.58 earnings per share. As a group, equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were issued a $3.00 dividend. The ex-dividend date was Friday, May 30th. This represents a $12.00 annualized dividend and a yield of 1.68%. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 27.85%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GS. Morgan Stanley raised their price target on shares of The Goldman Sachs Group from $570.00 to $592.00 and gave the company an "equal weight" rating in a research note on Monday, June 23rd. Wells Fargo & Company decreased their target price on The Goldman Sachs Group from $680.00 to $650.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Daiwa America cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, JMP Securities lowered their target price on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $603.73.

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.