Korea Investment CORP Purchases 32,979 Shares of The Goldman Sachs Group, Inc. $GS

Korea Investment CORP boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 19.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 201,688 shares of the investment management company’s stock after acquiring an additional 32,979 shares during the quarter. Korea Investment CORP owned 0.07% of The Goldman Sachs Group worth $203,981,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Turim 21 Investimentos Ltda. bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $25,000. BOK Financial Private Wealth Inc. lifted its stake in shares of The Goldman Sachs Group by 188.9% in the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after purchasing an additional 17 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC boosted its holdings 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 worth $27,000 after buying an additional 23 shares during the last quarter. Finally, Steph & Co. bought a new stake in The Goldman Sachs Group during the first quarter valued at approximately $27,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Trading Up 0.2%

The Goldman Sachs Group stock opened at $1,041.35 on Monday. The Goldman Sachs Group, Inc. has a 12-month low of $718.58 and a 12-month high of $1,153.99. The firm has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.05 and a beta of 1.30. The firm has a 50 day moving average of $1,053.96 and a 200 day moving average of $964.52. 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 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 for the quarter, beating the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.91 earnings per share. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given 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 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 payout ratio is 27.78%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group set a $1,299.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. UBS Group lifted 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 note on Monday, August 3rd. Daiwa Securities Group boosted their price objective on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. BMO Capital Markets upped their price objective on The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 15th. Finally, Bank of America raised their target price on 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. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,062.86.

Key Headlines 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

About The Goldman Sachs Group

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.