OVERSEA CHINESE BANKING Corp Ltd Reduces Stock Holdings in The Goldman Sachs Group, Inc. $GS

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 50.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,991 shares of the investment management company’s stock after selling 8,042 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in The Goldman Sachs Group were worth $8,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Sky Investment Group LLC lifted its position in shares of The Goldman Sachs Group by 0.9% during the 2nd quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock valued at $1,181,000 after buying an additional 10 shares during the last quarter. Warren Street Wealth Advisors LLC grew its stake in shares of The Goldman Sachs Group by 3.9% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock worth $272,000 after acquiring an additional 10 shares during the period. Pines Wealth Management LLC increased its holdings in The Goldman Sachs Group by 0.4% in the 4th quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock worth $2,255,000 after acquiring an additional 11 shares during the last quarter. Welch & Forbes LLC increased its holdings in The Goldman Sachs Group by 0.8% in the 4th quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock worth $1,257,000 after acquiring an additional 11 shares during the last quarter. Finally, First Financial Group Corp raised its stake in The Goldman Sachs Group by 4.7% in the 1st quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock valued at $208,000 after acquiring an additional 11 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

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

Analyst Ratings Changes

Several research firms have commented on GS. CICC Research upped their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Dbs Bank lifted their target price on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. Citigroup boosted their price target on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Barclays upped their price target on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Bank of America raised 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 report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.86.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $1,041.35 on Friday. The business’s fifty day moving average is $1,053.96 and its 200 day moving average is $964.40. 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 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 Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The firm’s revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the company earned $10.91 EPS. Research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a $5.00 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group’s payout ratio is currently 27.78%.

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.