IMG Wealth Management Inc. Acquires New Shares in The Goldman Sachs Group, Inc. $GS

IMG Wealth Management Inc. acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 607 shares of the investment management company’s stock, valued at approximately $614,000. The Goldman Sachs Group accounts for 0.3% of IMG Wealth Management Inc.’s portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Turim 21 Investimentos Ltda. acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth $26,000. Manning & Napier Advisors LLC increased 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 worth $27,000 after purchasing an additional 23 shares during the last quarter. Steph & Co. acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in The Goldman Sachs Group in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

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

The Goldman Sachs Group Stock Up 3.9%

Shares of NYSE:GS opened at $1,041.35 on Friday. The firm has a market capitalization of $303.21 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1 year low of $718.58 and a 1 year high of $1,153.99. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The firm’s 50-day moving average is $1,053.96 and its two-hundred day moving average is $964.40.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter last year, the firm posted $10.91 earnings per share. Analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a research report on Wednesday, July 15th. Dbs Bank lifted their price target on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Rothschild & Co Redburn upped their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Finally, Bank of America increased their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,062.86.

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.