Pettee Investors Inc. Raises Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Pettee Investors Inc. boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,035 shares of the investment management company’s stock after acquiring an additional 57 shares during the period. Pettee Investors Inc.’s holdings in The Goldman Sachs Group were worth $1,165,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Jackson Grant Investment Advisers Inc. increased its position in The Goldman Sachs Group by 10.9% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock valued at $93,000 after acquiring an additional 16 shares during the last quarter. Ledyard National Bank increased its position in The Goldman Sachs Group by 3.4% during the fourth quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock valued at $278,000 after acquiring an additional 16 shares during the last quarter. Seelaus Asset Management LLC grew its holdings in shares of The Goldman Sachs Group by 2.5% in the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company’s stock worth $378,000 after purchasing an additional 16 shares during the last quarter. Pointe Capital Management LLC grew its holdings in shares of The Goldman Sachs Group by 1.0% in the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock worth $951,000 after purchasing an additional 16 shares during the last quarter. Finally, Genesee Capital Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 1.0% in the fourth quarter. Genesee Capital Advisors LLC now owns 1,788 shares of the investment management company’s stock worth $1,024,000 after purchasing an additional 17 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In related news, Director Kevin R. Johnson acquired 2,400 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $619.02 per share, with a total value of $1,485,648.00. Following the transaction, the director now directly owns 2,400 shares of the company’s stock, valued at $1,485,648. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sheara J. Fredman sold 2,034 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the completion of the transaction, the chief accounting officer now directly owns 6,455 shares of the company’s stock, valued at $4,047,349.55. The trade was a 23.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,925 shares of company stock valued at $12,630,683. 0.54% of the stock is currently owned by insiders.

The Goldman Sachs Group Stock Performance

GS stock opened at $559.55 on Friday. The firm has a market cap of $174.60 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.89 and a beta of 1.37. The firm has a 50-day simple moving average of $616.96 and a two-hundred day simple moving average of $565.76. The Goldman Sachs Group, Inc. has a one year low of $381.42 and a one year high of $672.19. 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 released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the prior year, the firm posted $5.48 earnings per share. 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 Dividend Announcement

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 dividend yield of 2.14%. The ex-dividend date is Friday, February 28th. The Goldman Sachs Group’s payout ratio is 29.59%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GS shares. UBS Group upped their price target on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Oppenheimer cut their price target on shares of 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. HSBC cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and upped their price target for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Barclays upped their price target on shares of The Goldman Sachs Group from $713.00 to $760.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Citigroup upped their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $591.69.

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.