Foster & Motley Inc. bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,654 shares of the investment management company’s stock, valued at approximately $4,707,000.
Other large investors have also modified their holdings of the company. Sky Investment Group LLC grew its holdings in The Goldman Sachs Group by 0.9% during the 2nd quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock valued at $1,181,000 after buying an additional 10 shares during the last quarter. Warren Street Wealth Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 3.9% in the second quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock worth $272,000 after acquiring an additional 10 shares during the last quarter. Pines Wealth Management LLC raised its holdings in shares of The Goldman Sachs Group by 0.4% in the fourth quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock worth $2,255,000 after acquiring an additional 11 shares during the last quarter. Welch & Forbes LLC lifted its position in shares of The Goldman Sachs Group by 0.8% in the fourth quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock valued at $1,257,000 after acquiring an additional 11 shares in the last quarter. Finally, First Financial Group Corp boosted its stake in shares of The Goldman Sachs Group by 4.7% during the first quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock valued at $208,000 after acquiring an additional 11 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.
More 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 Trading Up 3.9%
The Goldman Sachs Group (NYSE:GS – Get Free Report) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The firm had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. During the same period in the previous year, the firm earned $10.91 earnings per share. The Goldman Sachs Group’s revenue was up 39.4% compared to the same quarter last year. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.
The Goldman Sachs Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be issued a $5.00 dividend. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.78%.
Analysts Set New Price Targets
A number of research firms recently commented on GS. Morgan Stanley set a $1,145.00 price objective on The Goldman Sachs Group in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price target on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. CICC Research lifted their price target on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Wells Fargo & Company upped their price objective on shares of The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Bank of America raised their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.86.
The Goldman Sachs Group 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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