Bank Pictet & Cie Europe AG Raises Stake in The Goldman Sachs Group, Inc. $GS

Bank Pictet & Cie Europe AG lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 151.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,562 shares of the investment management company’s stock after buying an additional 2,147 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in The Goldman Sachs Group were worth $2,521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC grew its holdings in shares of The Goldman Sachs Group by 617,504.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company’s stock worth $20,566,005,000 after buying an additional 29,053,586 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of The Goldman Sachs Group by 63,864.7% in the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company’s stock worth $2,172,423,000 after acquiring an additional 3,970,467 shares during the last quarter. Northern Trust Corp boosted its position in shares of The Goldman Sachs Group by 1.2% in the first quarter. Northern Trust Corp now owns 3,332,804 shares of the investment management company’s stock worth $1,820,677,000 after acquiring an additional 40,125 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth approximately $1,766,238,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of The Goldman Sachs Group by 6.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,084,108 shares of the investment management company’s stock worth $1,138,527,000 after acquiring an additional 120,272 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Trading Up 0.3%

Shares of GS stock opened at $794.75 on Friday. The stock has a market cap of $240.59 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.65 and a beta of 1.41. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The firm’s 50 day moving average price is $745.43 and its two-hundred day moving average price is $644.54.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating analysts’ consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the company posted $8.62 earnings per share. The Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $4.00 per share. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio is presently 35.26%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GS shares. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Citigroup raised their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Royal Bank Of Canada reissued a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Finally, Wells Fargo & Company lifted their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the company an “overweight” rating in a research report on Tuesday, September 16th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and a consensus price target of $665.00.

Insider Activity

In other news, CEO David M. Solomon sold 6,608 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at approximately $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at approximately $86,463,679.48. The trade was a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by company insiders.

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.