Wedmont Private Capital Purchases 1,581 Shares of The Goldman Sachs Group, Inc. $GS

Wedmont Private Capital increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 26.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,523 shares of the investment management company’s stock after purchasing an additional 1,581 shares during the quarter. Wedmont Private Capital’s holdings in The Goldman Sachs Group were worth $6,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Orange County Employees Retirement System bought a new position in The Goldman Sachs Group during the 2nd quarter worth $69,537,544,000. BlackRock Inc. acquired a new position in shares of The Goldman Sachs Group in the second quarter valued at about $24,172,123,000. State Street Corp increased its position in The Goldman Sachs Group by 2.1% during the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after acquiring an additional 394,198 shares during the period. Bank of America Corp DE bought a new position in The Goldman Sachs Group during the second quarter worth about $6,756,772,000. Finally, Bank of New York Mellon Corp acquired a new stake in The Goldman Sachs Group in the 2nd quarter worth about $2,560,028,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS traded up $7.00 during midday trading on Friday, hitting $889.59. The stock had a trading volume of 805,509 shares, compared to its average volume of 2,194,513. The company’s 50-day moving average price is $992.83 and its 200-day moving average price is $987.89. The Goldman Sachs Group, Inc. has a fifty-two week low of $740.01 and a fifty-two week 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 company has a market capitalization of $259.02 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same quarter last year, the business posted $10.91 EPS. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. As a group, equities research analysts predict that The Goldman Sachs Group, Inc. will post 67.48 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st were issued a $5.00 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio (DPR) is 30.87%.

Analysts Set New Price Targets

GS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 15th. Rothschild & Co Redburn lifted 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 report on Thursday, June 25th. Oppenheimer cut The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Morgan Stanley set a $1,145.00 price target on The Goldman Sachs Group in a research report on Wednesday, July 15th. Finally, BMO Capital Markets dropped their price objective on The Goldman Sachs Group from $972.00 to $970.00 and set a “market perform” rating for the company in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1,055.09.

The Goldman Sachs Group News Summary

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: TD Cowen upgraded GS to “Strong Buy”, while initiating coverage with a $1,050 price target—about 18% above the referenced share price. The upgrade provides a significant positive catalyst ahead of earnings. TD Cowen coverage and Goldman earnings projections
• Positive Sentiment: Goldman Sachs is scheduled to report third-quarter results before the market opens on October 13. Analysts expect strong equity trading and investment-banking revenue to support growth, with Wall Street projecting another substantial year-over-year earnings increase. Goldman is also expected to be among the leaders in an estimated $19 billion quarterly trading-revenue pool. Goldman stock before Q3 earnings
• Positive Sentiment: Goldman continues to win advisory mandates, including being hired by Cinven to help revive a potential $2 billion JLA sale. A stronger deal pipeline could benefit the firm’s investment-banking fees. Goldman hired by Cinven for JLA sale
• Neutral Sentiment: BMO Capital retained its “Hold” rating, offering a more cautious counterpoint to TD Cowen’s bullish call. The upcoming earnings report remains the key near-term test. BMO maintains Hold rating
• Negative Sentiment: Higher bond yields have recently pressured GS shares, while softer fixed-income, currencies and commodities activity and elevated expenses could limit third-quarter results. Goldman stock and rising bond yields
• Negative Sentiment: Goldman plans more than $500 million in special equity awards for senior executives. The awards recognize long-term performance but may raise investor concerns about compensation costs and potential shareholder dilution. Goldman executive special bonuses

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.