The Goldman Sachs Group, Inc. (NYSE:GS) Shares Sold by Pettee Investors Inc.

Pettee Investors Inc. trimmed its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 25.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,978 shares of the investment management company’s stock after selling 665 shares during the quarter. Pettee Investors Inc.’s holdings in The Goldman Sachs Group were worth $895,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Capital World Investors raised its position in shares of The Goldman Sachs Group by 6.0% during the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after purchasing an additional 338,181 shares during the period. Fisher Asset Management LLC lifted its stake in The Goldman Sachs Group by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 5,516,093 shares of the investment management company’s stock valued at $2,127,944,000 after buying an additional 150,532 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of The Goldman Sachs Group by 0.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock worth $2,004,153,000 after buying an additional 27,524 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of The Goldman Sachs Group by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock worth $1,910,897,000 after acquiring an additional 274,989 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of The Goldman Sachs Group by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 4,895,928 shares of the investment management company’s stock valued at $2,044,980,000 after acquiring an additional 141,538 shares during the period. Institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the sale, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian J. Lee sold 3,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total transaction of $1,770,965.00. Following the transaction, the insider now directly owns 12,095 shares in the company, valued at approximately $6,119,949.05. The disclosure for this sale can be found here. In the last three months, insiders sold 4,013,500 shares of company stock valued at $32,181,365. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GS. Citigroup raised their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Oppenheimer lifted their price target on The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. UBS Group lifted their target price on The Goldman Sachs Group from $490.00 to $535.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley increased their price target on shares of The Goldman Sachs Group from $513.00 to $561.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $495.94.

The Goldman Sachs Group Price Performance

NYSE GS opened at $490.86 on Wednesday. The Goldman Sachs Group, Inc. has a fifty-two week low of $289.36 and a fifty-two week high of $517.26. The stock’s 50-day moving average is $487.26 and its two-hundred day moving average is $446.50. The firm has a market cap of $155.01 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 0.79 and a beta of 1.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share for the quarter, beating analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.60 billion. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 35.07 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $2.75. The ex-dividend date of this dividend is Friday, August 30th. The Goldman Sachs Group’s payout ratio is presently 42.95%.

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.