Pettee Investors Inc. Has $1.32 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Pettee Investors Inc. grew its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 19.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,423 shares of the investment management company's stock after acquiring an additional 388 shares during the quarter. Pettee Investors Inc.'s holdings in The Goldman Sachs Group were worth $1,324,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GS. Geode Capital Management LLC lifted its position in shares of The Goldman Sachs Group by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company's stock worth $3,761,576,000 after buying an additional 161,500 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of The Goldman Sachs Group by 63,864.7% during the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after buying an additional 3,970,467 shares during the last quarter. FMR LLC lifted its position in shares of The Goldman Sachs Group by 23.7% during the 4th quarter. FMR LLC now owns 3,586,348 shares of the investment management company's stock worth $2,053,614,000 after buying an additional 687,711 shares during the last quarter. Northern Trust Corp lifted its position in shares of The Goldman Sachs Group by 15.0% during the 4th quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company's stock worth $1,885,454,000 after buying an additional 428,502 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter worth $1,766,238,000. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GS has been the subject of several recent analyst reports. JMP Securities restated a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday. Royal Bank Of Canada reiterated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. HSBC reiterated a "reduce" rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Barclays dropped their target price on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Daiwa America downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Hold" and an average target price of $630.87.

The Goldman Sachs Group Trading Down 0.3%

NYSE GS traded down $2.20 during trading hours on Thursday, hitting $706.62. 2,043,921 shares of the company's stock were exchanged, compared to its average volume of 2,370,571. The stock has a 50-day simple moving average of $641.38 and a 200 day simple moving average of $599.03. The Goldman Sachs Group, Inc. has a 1-year low of $437.37 and a 1-year high of $726.00. The firm has a market cap of $216.82 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.97 and a beta of 1.35. The company has a current ratio of 1.12, a quick ratio of 0.68 and a debt-to-equity ratio of 2.26.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The business had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter last year, the firm posted $8.62 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.26%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 27.85%.

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.