Ninepoint Partners LP purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 547 shares of the investment management company’s stock, valued at approximately $553,000.
Several other hedge funds have also recently added to or reduced their stakes in GS. BlackRock Inc. acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth $24,172,123,000. Norges Bank acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $2,515,830,000. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at about $69,537,544,000. Bank of New York Mellon Corp purchased a new position in shares of The Goldman Sachs Group in the second quarter worth about $2,560,028,000. Finally, Corient Private Wealth LLC lifted its stake in shares of The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after buying an additional 2,448,767 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
GS has been the topic of a number of recent research reports. UBS Group boosted their price target on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Dbs Bank raised their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 15th. Zacks Research upgraded The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Rothschild & Co Redburn upped their price target on The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, June 25th. Two investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.86.
The Goldman Sachs Group Stock Up 3.9%
Shares of GS opened at $1,041.35 on Friday. The company’s 50-day moving average price is $1,053.96 and its 200 day moving average price is $964.40. The Goldman Sachs Group, Inc. has a 12-month low of $718.58 and a 12-month high of $1,153.99. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17. The firm has a market cap of $303.21 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.05 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, topping the consensus estimate 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 company had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. During the same quarter last year, the firm posted $10.91 earnings per share. The Goldman Sachs Group’s revenue was up 39.4% compared to the same quarter last year. On average, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current year.
The Goldman Sachs Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a $5.00 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. This is an increase 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%.
Key Stories Impacting The Goldman Sachs Group
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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