Portfolio Design Labs LLC Acquires 499 Shares of The Goldman Sachs Group, Inc. $GS

Portfolio Design Labs LLC lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 27.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,335 shares of the investment management company’s stock after purchasing an additional 499 shares during the period. Portfolio Design Labs LLC’s holdings in The Goldman Sachs Group were worth $2,362,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Turim 21 Investimentos Ltda. bought a new stake in The Goldman Sachs Group during the first quarter valued at about $25,000. BOK Financial Private Wealth Inc. increased its position in The Goldman Sachs Group by 188.9% in the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after buying an additional 17 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC lifted its position in shares of The Goldman Sachs Group by 287.5% during the 4th 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 in the last quarter. Finally, Steph & Co. purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at about $27,000. 71.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GS. Bank of America increased 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 report on Thursday, July 16th. Oppenheimer downgraded shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Rothschild & Co Redburn upped their price target on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. Morgan Stanley set a $1,145.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Finally, Barclays upped their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,062.86.

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

The Goldman Sachs Group Trading Up 3.9%

The Goldman Sachs Group stock opened at $1,041.35 on Friday. The stock has a 50-day moving average price of $1,053.96 and a 200 day moving average price of $964.40. The company has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30. 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 Goldman Sachs Group, Inc. has a 52 week low of $718.58 and a 52 week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $16.22 billion. During the same quarter in the prior year, the business earned $10.91 earnings per share. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

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 $5.00 dividend. 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. This represents a $20.00 annualized dividend and a yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio is currently 27.78%.

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.