Rakuten Securities Inc. Sells 1,852 Shares of The Goldman Sachs Group, Inc. $GS

Rakuten Securities Inc. cut its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 69.2% in the second quarter, Holdings Channel.com reports. The firm owned 823 shares of the investment management company’s stock after selling 1,852 shares during the quarter. Rakuten Securities Inc.’s holdings in The Goldman Sachs Group were worth $832,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Callan Family Office LLC lifted its stake in The Goldman Sachs Group by 0.4% in the second quarter. Callan Family Office LLC now owns 20,918 shares of the investment management company’s stock worth $21,156,000 after purchasing an additional 82 shares during the last quarter. Keebeck Wealth Management grew its stake in shares of The Goldman Sachs Group by 18.6% during the second quarter. Keebeck Wealth Management now owns 2,019 shares of the investment management company’s stock valued at $2,042,000 after buying an additional 316 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of The Goldman Sachs Group by 1.5% in the second quarter. Thoroughbred Financial Services LLC now owns 5,641 shares of the investment management company’s stock worth $5,706,000 after buying an additional 86 shares during the period. Patron Partners LLC raised its holdings in shares of The Goldman Sachs Group by 12.1% in the second quarter. Patron Partners LLC now owns 1,564 shares of the investment management company’s stock worth $1,582,000 after buying an additional 169 shares during the period. Finally, OneAscent Family Office LLC bought a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $254,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

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 Performance

Shares of GS stock opened at $1,041.35 on Monday. The firm 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, Inc. has a 52-week low of $718.58 and a 52-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’s 50 day moving average is $1,053.96 and its 200 day moving average is $964.52.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The Goldman Sachs Group’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.91 earnings per share. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This is an increase 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 dividend yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of recent analyst reports. Morgan Stanley set a $1,145.00 price objective on The Goldman Sachs Group in a report on Wednesday, July 15th. UBS Group increased their target price on 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. Keefe, Bruyette & Woods lifted their target price on 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. Daiwa Securities Group boosted their target price on shares of 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, HSBC upgraded shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.