NewEdge Advisors LLC raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,498 shares of the investment management company’s stock after purchasing an additional 4,672 shares during the period. NewEdge Advisors LLC’s holdings in The Goldman Sachs Group were worth $63,209,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Ehrenkranz Partners L.P. acquired a new position in shares of The Goldman Sachs Group in the second quarter valued at approximately $202,000. IFP Advisors Inc boosted its position in The Goldman Sachs Group by 8.3% during the 2nd quarter. IFP Advisors Inc now owns 9,172 shares of the investment management company’s stock worth $9,276,000 after buying an additional 700 shares during the period. Baird Financial Group Inc. boosted its position in The Goldman Sachs Group by 2.9% during the 2nd quarter. Baird Financial Group Inc. now owns 110,233 shares of the investment management company’s stock worth $111,487,000 after buying an additional 3,063 shares during the period. XY Planning Network Inc. bought a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $207,000. Finally, West Family Investments Inc. grew its holdings in The Goldman Sachs Group by 91.2% during the 2nd quarter. West Family Investments Inc. now owns 866 shares of the investment management company’s stock worth $876,000 after acquiring an additional 413 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.
The Goldman Sachs Group Price Performance
GS stock opened at $1,034.99 on Wednesday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The business has a 50-day simple moving average of $1,044.54 and a two-hundred day simple moving average of $973.81. The company has a market capitalization of $301.36 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.05 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 52-week low of $738.54 and a 52-week high of $1,153.99.
The Goldman Sachs Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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 payout ratio is currently 30.87%.
Analysts Set New Price Targets
GS has been the subject of a number of recent research reports. Oppenheimer downgraded The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Weiss Ratings raised The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Morgan Stanley set a $1,145.00 price objective on The Goldman Sachs Group in a research report on Wednesday, July 15th. UBS Group lifted their price objective on The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a report on Wednesday, July 15th. Two research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,062.86.
Check Out Our Latest Stock Analysis on The Goldman Sachs Group
Key Headlines Impacting The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
- Positive Sentiment: Goldman agreed to pay approximately $2.25 billion for the firm behind a popular Bitcoin-income ETF. The deal would expand Goldman’s asset-management and digital-asset capabilities, although investors will assess whether the price paid can generate attractive returns. Goldman Is Paying $2.25 Billion for the Firm Behind This Bitcoin Income Fund
- Positive Sentiment: The bank opened a Bellevue, Washington, engineering office for more than 125 employees focused on artificial intelligence and cloud transformation. The investment could improve operating efficiency and support technology-led products over time. Goldman expands AI push with new engineering office in Bellevue
- Positive Sentiment: Goldman is expanding its Canadian asset-management business through a deal with IG Wealth Management and has recently added pension-related assets. The moves could increase recurring management fees and diversify revenue beyond investment banking. Goldman expands in Canada via asset management deal with IG
- Neutral Sentiment: Goldman’s warnings that Brent crude could reach $120 per barrel if Strait of Hormuz disruptions worsen are increasing its visibility in commodities markets. Higher volatility may benefit trading revenue, but prolonged supply shocks could also raise inflation and recession risks for the broader financial sector. Goldman Sachs flips on oil-price forecasts and says $120 Brent could be next
- Neutral Sentiment: Goldman participated in India’s ARCIL IPO anchor round and was reported among major holders of XRP ETFs. These items reinforce its capital-markets and digital-asset activity but appear too small to materially change near-term earnings.
- Negative Sentiment: Analysts warn that capital-markets momentum is fading in the third quarter, creating the risk of uneven results for major banks. That concern may be prompting investors to lock in gains after GS rose 38.6% over the past year. Capital Markets Momentum Fades: What it Means for Big Banks in Q3
About The Goldman Sachs Group
The Goldman Sachs Group, Inc (NYSE:GS) is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individuals. The company is headquartered in New York City and serves clients across North America, Europe, Asia-Pacific and other international markets.
Through its Global Banking & Markets segment, Goldman Sachs advises clients on mergers and acquisitions, capital raising, restructuring and other strategic transactions.
Read More
- Five stocks we like better than The Goldman Sachs Group
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
Receive News & Ratings for The Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.
