K.J. Harrison & Partners Inc Buys New Stake in The Goldman Sachs Group, Inc. $GS

K.J. Harrison & Partners Inc purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 10,265 shares of the investment management company’s stock, valued at approximately $10,382,000. The Goldman Sachs Group accounts for about 1.5% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GS. Conway Capital Management Inc. acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth about $253,000. Lee Johnson Capital Management LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $5,587,000. Auxano Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $687,000. IMG Wealth Management Inc. purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth about $614,000. Finally, Focused Alpha LLC purchased a new stake in shares of The Goldman Sachs Group in the second quarter worth about $2,171,000. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group News Roundup

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GS. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Oppenheimer lowered The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 30th. Wall Street Zen cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. HSBC raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, UBS Group boosted 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 research note on Monday, August 3rd. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,062.86.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $1,041.35 on Friday. The firm has a market cap of $303.21 billion, a PE ratio of 16.07, a P/E/G ratio of 1.02 and a beta of 1.30. The Goldman Sachs Group, Inc. has a twelve month low of $718.58 and a twelve month 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 business has a 50-day moving average price of $1,053.96 and a 200 day moving average price of $964.40.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The company had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same quarter in the prior year, the business posted $10.91 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 39.4% on a year-over-year basis. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend 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 is currently 27.78%.

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.