Lee Johnson Capital Management LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,524 shares of the investment management company’s stock, valued at approximately $5,587,000. The Goldman Sachs Group accounts for 1.7% of Lee Johnson Capital Management LLC’s investment portfolio, making the stock its 21st largest holding.
Other institutional investors also recently modified their holdings of the company. Turim 21 Investimentos Ltda. bought a new position in The Goldman Sachs Group during the 1st quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC increased its stake in shares of The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after buying an additional 23 shares during the period. Steph & Co. acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $27,000. Finally, Lifetime Wealth Management P.C. bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $29,000. Institutional investors own 71.21% of the company’s stock.
The Goldman Sachs Group Stock Up 3.9%
Shares of NYSE:GS opened at $1,041.35 on Friday. The Goldman Sachs Group, Inc. has a 1 year low of $718.58 and a 1 year high of $1,153.99. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The business’s 50-day moving average is $1,053.96 and its 200-day moving average is $964.40. The company has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.02 and a beta of 1.30.
The Goldman Sachs Group Increases Dividend
The firm 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 dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.78%.
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
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Barclays increased their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. CICC Research raised 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. Rothschild & Co Redburn boosted their price target on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Finally, BNP Paribas Exane reduced their price objective on shares of The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,062.86.
Get Our Latest Research Report on GS
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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