Tiemann Investment Advisors LLC acquired a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,336 shares of the investment management company’s stock, valued at approximately $1,351,000.
A number of other institutional investors and hedge funds have also made changes to their positions in GS. Audent Global Asset Management LLC lifted its stake in shares of The Goldman Sachs Group by 10.1% in the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company’s stock valued at $4,604,000 after purchasing an additional 479 shares in the last quarter. Oak Grove Capital LLC acquired a new stake in The Goldman Sachs Group during the 4th quarter worth approximately $1,890,000. Nomura Asset Management Co. Ltd. increased its position in The Goldman Sachs Group by 2.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company’s stock worth $124,809,000 after purchasing an additional 3,653 shares in the last quarter. Global Retirement Partners LLC raised its holdings in The Goldman Sachs Group by 35.0% in the fourth quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company’s stock valued at $10,499,000 after buying an additional 3,098 shares during the period. Finally, New Age Alpha Advisors LLC raised its holdings in The Goldman Sachs Group by 92.4% in the fourth quarter. New Age Alpha Advisors LLC now owns 14,298 shares of the investment management company’s stock valued at $12,568,000 after buying an additional 6,867 shares during the period. 71.21% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GS has been the subject of several research reports. Dbs Bank boosted their price objective on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Citigroup raised their target price on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. UBS Group lifted their target price on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. HSBC upgraded The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company raised their price objective on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price of $1,062.86.
The Goldman Sachs Group Trading Up 3.9%
GS opened at $1,041.35 on Friday. The firm’s 50 day moving average is $1,053.96 and its 200-day moving average is $964.40. The Goldman Sachs Group, Inc. has a 52-week low of $718.58 and a 52-week high of $1,153.99. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The firm has a market capitalization of $303.21 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.02 and a beta of 1.30.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.91 earnings per share. Analysts expect that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current fiscal year.
The Goldman Sachs Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be given a $5.00 dividend. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio is currently 27.78%.
Key The Goldman Sachs Group News
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman Sachs was among the financial giants receiving a “Buy” growth grade, reinforcing the view that its earnings growth, capital-markets franchise and strategic positioning remain attractive. Citigroup and Goldman Sachs lead as most financial giants earn Buy growth grades
- Positive Sentiment: The firm is reportedly expanding into India’s government share-sale market. Greater participation in equity offerings could create additional investment-banking revenue and deepen Goldman’s presence in a fast-growing market. Goldman Sachs expands into India’s government share sale market
- Positive Sentiment: Goldman agreed to pay up to $2.25 billion for NEOS Investments, the issuer of high-income ETFs. The acquisition supports Goldman’s asset-management and wealth-products strategy, although investors will monitor the price paid and integration execution. Goldman Sachs acquisition of NEOS Investments
- Neutral Sentiment: Goldman research said gold could exceed its $4,900 year-end forecast amid options demand, Western investor buying and central-bank purchases. The call may benefit the firm’s commodities and trading franchise, but changing interest-rate expectations could increase market volatility and forecasting risk. Gold could top Goldman’s forecast
- Negative Sentiment: Goldman strategists described July as one of the sharpest hedge-fund de-grossing episodes of the past decade, with hedge funds posting an unusually weak month relative to the S&P 500. Continued de-risking could pressure trading activity and investment-banking sentiment across Wall Street. Goldman Sachs hedge funds worst month versus S&P 500
The Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.
Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.
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