Portfolio Design Labs LLC Increases Stake in The Goldman Sachs Group, Inc. $GS

Portfolio Design Labs LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 27.2% in the second quarter, HoldingsChannel reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of The Goldman Sachs Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after purchasing an additional 418,820 shares during the period. BlackRock Inc. acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $24,172,123,000. State Street Corp lifted its stake in shares of The Goldman Sachs Group by 2.1% in the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock valued at $17,197,444,000 after purchasing an additional 394,198 shares during the period. Fisher Asset Management LLC boosted its holdings in The Goldman Sachs Group by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock worth $5,952,199,000 after buying an additional 110,134 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in The Goldman Sachs Group by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock worth $5,896,795,000 after buying an additional 45,266 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group News Summary

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 Stock Up 3.9%

NYSE GS opened at $1,041.35 on Friday. The Goldman Sachs Group, Inc. has a one year low of $718.58 and a one year high of $1,153.99. The company has a market cap of $303.21 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.05 and a beta of 1.30. The business has a fifty day moving average price of $1,053.96 and a 200 day moving average price of $964.40. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63.

The Goldman Sachs Group (NYSE:GS) last issued 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 business had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.91 EPS. Research analysts anticipate that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is presently 27.78%.

Analyst Ratings Changes

A number of research analysts have weighed in on GS shares. BMO Capital Markets lifted their price objective on shares of The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a “market perform” rating in a report on Wednesday, July 15th. Wells Fargo & Company increased their target price on shares of 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. Bank of America raised their target price on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Daiwa Securities Group lifted their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Oppenheimer cut The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,062.86.

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.