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

Pettee Investors Inc. boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 19.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,423 shares of the investment management company’s stock after buying 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.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. grew its position in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Transce3nd LLC purchased a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Mascagni Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 326.7% during the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock worth $35,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. Citigroup reduced their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Oppenheimer lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 19th. Finally, Morgan Stanley lifted their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an “equal weight” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $630.87.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $707.84 on Thursday. The Goldman Sachs Group, Inc. has a 12-month low of $437.37 and a 12-month high of $726.00. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $217.19 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.96 and a beta of 1.35. The firm has a 50-day moving average price of $641.38 and a 200 day moving average price of $599.03.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.62 earnings per share. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

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.