Hartford Investment Management Co. Reduces Stake in Goldman Sachs

Hartford Investment Management Co. has announced that it has decreased its ownership in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.2% in the fourth quarter, as reported in its latest 13F filing with the Securities and Exchange Commission. After selling 443 shares during the quarter, Hartford Investment Management Co. now holds 19,432 shares of Goldman Sachs, which were valued at approximately $11,127,000 at the close of the recent reporting period.

Changes in Institutional Holdings

Several other hedge funds have also altered their stakes in Goldman Sachs. For instance, Stephens Consulting LLC acquired a new position in the company in the fourth quarter worth around $26,000. Additionally, West Branch Capital LLC purchased shares in the third quarter valued at about $30,000. DT Investment Partners LLC increased its holdings by 110.0% during the same quarter, now owning 63 shares worth approximately $31,000 after acquiring an additional 33 shares. Similarly, Truvestments Capital LLC and Capital Performance Advisors LLP also bought new stakes in Goldman Sachs during that quarter. Currently, institutional investors and hedge funds own 71.21% of the company's stock.

Insider Transactions at Goldman Sachs

In other developments, insider trading activity was noted at The Goldman Sachs Group. Director David A. Viniar sold 5,000 shares at an average price of $612.08 on November 29, resulting in a transaction worth $3,060,400. Following the sale, Viniar owns 608,425 shares valued at about $372,404,774, representing a 0.82% reduction in his position. Furthermore, CEO David M. Solomon sold 6,550 shares on the same date for $4,001,460.50, which reflects a 5.26% decrease in his ownership. Over the last three months, insiders have sold a total of 31,475 shares worth approximately $19,692,543.

Analysts and Price Target Updates

Recent analyst reports on Goldman Sachs have revealed varied outlooks. Morgan Stanley raised its target price from $736.00 to $782.00 while maintaining an 'overweight' rating. Evercore ISI also increased its price target from $520.00 to $575.00, giving the stock an 'outperform' rating. Conversely, HSBC downgraded its rating from 'buy' to 'hold,' increasing the price target from $569.00 to $608.00. Additionally, Bank of America raised their price objective from $563.00 to $575.00, maintaining a 'buy' rating. Overall, eight analysts rated the stock as 'hold', and twelve issued 'buy' ratings, leading to a consensus rating of 'Moderate Buy' with an average target price of $591.06.

Current Stock Performance

As of the latest trading session, shares of Goldman Sachs opened at $647.32. The company's stock has shown a wide range over the past year with a low of $375.20 and a high of $663.87. Goldman Sachs currently has a market capitalization of $200.96 billion, a PE ratio of 15.96, and a price-to-earnings-growth ratio of 0.91. The firm’s quick and current ratios stand at 0.67, with a debt-to-equity ratio of 2.32. Its 50-day and 200-day moving averages are $600.97 and $548.38 respectively.

Upcoming Dividend Announcement

The Goldman Sachs Group has also declared a quarterly dividend, scheduled to be paid on March 28. Shareholders on record by February 28 will receive a dividend of $3.00 per share, translating to an annualized dividend of $12.00 and a yield of 1.85%. Currently, The Goldman Sachs Group has a dividend payout ratio of 29.59%.

Company Overview

The Goldman Sachs Group, Inc. is a global financial institution that offers a diverse range of financial services for corporations, financial institutions, governments, and individuals. The firm operates in several segments including Global Banking & Markets, Asset & Wealth Management, and Platform Solutions. The Global Banking & Markets division provides financial advisory services that encompass mergers and acquisitions, corporate defense, and restructurings among others.

Goldman Sachs, Investment, Stocks