Korea Investment CORP Grows Stake in The Goldman Sachs Group, Inc. $GS

Korea Investment CORP boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 201,688 shares of the investment management company’s stock after purchasing an additional 32,979 shares during the quarter. Korea Investment CORP’s holdings in The Goldman Sachs Group were worth $203,981,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. raised its position in shares of The Goldman Sachs Group by 188.9% during the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after buying an additional 17 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth $26,000. Turim 21 Investimentos Ltda. purchased a new position in The Goldman Sachs Group during the first quarter valued at $25,000. Manning & Napier Advisors LLC grew its stake in The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 23 shares in the last quarter. Finally, Steph & Co. bought a new stake in The Goldman Sachs Group in the 1st quarter valued at $27,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 0.2%

Shares of NYSE:GS opened at $1,041.35 on Monday. 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, Inc. has a 12 month low of $718.58 and a 12 month high of $1,153.99. The company has a 50-day moving average price of $1,053.96 and a 200 day moving average price of $964.52. The company has a market cap of $303.21 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data 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 company 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 firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm posted $10.91 earnings per share. As a group, equities 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, September 1st. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is currently 27.78%.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on GS shares. BMO Capital Markets increased 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. Bank of America lifted 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. Citigroup boosted their target price on The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. HSBC raised The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.