Cigna Investments Inc. New Cuts Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Cigna Investments Inc. New trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,156 shares of the investment management company’s stock after selling 113 shares during the quarter. Cigna Investments Inc. New’s holdings in The Goldman Sachs Group were worth $1,807,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GS. Stephens Consulting LLC purchased a new position in The Goldman Sachs Group in the 4th quarter worth about $26,000. West Branch Capital LLC bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at approximately $30,000. DT Investment Partners LLC boosted its position in The Goldman Sachs Group by 110.0% during the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after purchasing an additional 33 shares during the period. Truvestments Capital LLC acquired a new position in The Goldman Sachs Group during the third quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP acquired a new position in The Goldman Sachs Group during the third quarter valued at approximately $38,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Down 0.9 %

GS opened at $650.24 on Tuesday. The stock has a market cap of $201.87 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.91 and a beta of 1.39. The stock’s 50 day moving average price is $600.00 and its 200-day moving average price is $547.26. The Goldman Sachs Group, Inc. has a one year low of $375.20 and a one year high of $663.87. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

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

The Goldman Sachs Group Dividend Announcement

The business 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 1.85%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio is currently 29.59%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup upped their price objective 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. Oppenheimer decreased their target price on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus price target of $591.06.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,034 shares of The Goldman Sachs Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total value of $1,275,338.34. Following the transaction, the chief accounting officer now directly owns 6,455 shares in the company, valued at approximately $4,047,349.55. The trade was a 23.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alex S. Golten sold 5,208 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the transaction, the insider now owns 3,545 shares in the company, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,475 shares of company stock valued at $19,692,543. Company insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Company 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.