Citizens Financial Group Inc. RI Takes Position in The Goldman Sachs Group, Inc. $GS

Citizens Financial Group Inc. RI purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 46,924 shares of the investment management company’s stock, valued at approximately $47,457,000. The Goldman Sachs Group comprises approximately 0.6% of Citizens Financial Group Inc. RI’s portfolio, making the stock its 29th biggest holding.

Several other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of The Goldman Sachs Group by 17.1% in the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock valued at $1,989,000 after acquiring an additional 508 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of The Goldman Sachs Group by 7.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after purchasing an additional 58 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in The Goldman Sachs Group by 90.1% in the second quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company’s stock worth $1,098,000 after acquiring an additional 735 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in shares of The Goldman Sachs Group by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company’s stock worth $581,000 after acquiring an additional 70 shares during the period. Finally, Main Street Financial Solutions LLC raised its position in The Goldman Sachs Group by 22.2% during the second quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company’s stock valued at $1,522,000 after acquiring an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analyst Ratings Changes

GS has been the subject of several research analyst reports. Daiwa Securities Group upped their target price on The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Citigroup boosted their price objective on shares of 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. Jefferies Financial Group set a $1,299.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. HSBC upgraded shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, BNP Paribas Exane lowered their target price on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned 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 Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average price target of $1,062.86.

Key The Goldman Sachs Group News

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 Trading Up 3.9%

Shares of NYSE:GS opened at $1,041.35 on Friday. The company has a 50 day moving average price of $1,053.96 and a 200 day moving average price of $964.40. The stock has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a PEG 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 quick ratio of 0.63 and a current ratio of 0.63.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The firm had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The firm’s revenue 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. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be given a $5.00 dividend. 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%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio is 27.78%.

The Goldman Sachs Group Company 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.