Great Lakes Advisors LLC Increases Stock Holdings in The Goldman Sachs Group, Inc. $GS

Great Lakes Advisors LLC boosted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 176,704 shares of the investment management company’s stock after buying an additional 6,518 shares during the quarter. The Goldman Sachs Group makes up 1.4% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Great Lakes Advisors LLC owned 0.06% of The Goldman Sachs Group worth $178,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Turim 21 Investimentos Ltda. purchased a new stake in shares of The Goldman Sachs Group in the first quarter valued at about $25,000. BOK Financial Private Wealth Inc. boosted its holdings in 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 worth $26,000 after purchasing an additional 17 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in The Goldman Sachs Group in the 4th quarter worth about $26,000. Manning & Napier Advisors LLC grew its position in The Goldman Sachs Group by 287.5% in 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 in the last quarter. Finally, Steph & Co. purchased a new stake in The Goldman Sachs Group in the 1st quarter valued at about $27,000. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,041.35 on Friday. The firm has a market cap of $303.21 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.05 and a beta of 1.30. 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, Inc. has a 52 week low of $718.58 and a 52 week high of $1,153.99. The firm’s 50-day simple moving average is $1,053.96 and its two-hundred day simple moving average is $964.40.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. During the same period in the previous year, the company earned $10.91 earnings per share. The company’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The company 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 $5.00 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.78%.

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

Analyst Ratings Changes

Several equities analysts have commented on GS shares. Wall Street Zen cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. CICC Research upped their target price on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Evercore reaffirmed an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Oppenheimer lowered The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a report on Tuesday, June 30th. Finally, Rothschild & Co Redburn boosted their price objective on The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. Two research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.