Banque Pictet & Cie SA Has $7.38 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Banque Pictet & Cie SA raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 236.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,880 shares of the investment management company’s stock after buying an additional 9,050 shares during the quarter. Banque Pictet & Cie SA’s holdings in The Goldman Sachs Group were worth $7,375,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GS. Jackson Grant Investment Advisers Inc. raised its position in The Goldman Sachs Group by 10.9% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company’s stock valued at $93,000 after purchasing an additional 16 shares during the last quarter. Ledyard National Bank raised its position in The Goldman Sachs Group by 3.4% in the fourth quarter. Ledyard National Bank now owns 486 shares of the investment management company’s stock valued at $278,000 after purchasing an additional 16 shares during the last quarter. Seelaus Asset Management LLC raised its position in 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 valued at $378,000 after purchasing an additional 16 shares during the last quarter. Genesee Capital Advisors LLC raised its position in 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 valued at $1,024,000 after purchasing an additional 17 shares during the last quarter. Finally, Horst & Graben Wealth Management LLC raised its position in The Goldman Sachs Group by 1.5% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 1,179 shares of the investment management company’s stock valued at $675,000 after purchasing an additional 17 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on GS shares. JPMorgan Chase & Co. increased their target price 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. Keefe, Bruyette & Woods increased their target price on The Goldman Sachs Group from $686.00 to $690.00 and gave the company an “outperform” rating in a research report on Thursday, January 16th. Barclays increased their price target on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley increased their price target on The Goldman Sachs Group from $736.00 to $782.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and increased their price target for the company from $569.00 to $608.00 in a research note on Tuesday, November 26th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $591.06.

Insider Activity

In other news, insider Kathryn H. Ruemmler sold 7,498 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $634.69, for a total value of $4,758,905.62. Following the transaction, the insider now owns 9,589 shares in the company, valued at $6,086,042.41. This trade represents a 43.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Carey Halio sold 3,640 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $636.74, for a total value of $2,317,733.60. Following the completion of the transaction, the treasurer now owns 4,552 shares in the company, valued at $2,898,440.48. This represents a 44.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,475 shares of company stock worth $19,692,543 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Up 1.9 %

Shares of NYSE:GS opened at $661.56 on Friday. The business’s 50 day simple moving average is $603.93 and its two-hundred day simple moving average is $550.81. The firm has a market cap of $205.38 billion, a P/E ratio of 16.31, a PEG ratio of 0.91 and a beta of 1.39. 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, Inc. has a 52-week low of $379.14 and a 52-week high of $663.87.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.21 by $3.74. The business had revenue of $13.87 billion for 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 company’s quarterly revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.48 earnings per share. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.81%. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

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.