Ieq Capital LLC Has $42.21 Million Stake in The Goldman Sachs Group, Inc. $GS

Ieq Capital LLC reduced its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 84.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,734 shares of the investment management company’s stock after selling 222,055 shares during the quarter. Ieq Capital LLC’s holdings in The Goldman Sachs Group were worth $42,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GS. Turim 21 Investimentos Ltda. acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $25,000. BOK Financial Private Wealth Inc. increased its stake in The Goldman Sachs Group by 188.9% in the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 17 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in The Goldman Sachs Group during the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC lifted its stake in The Goldman Sachs Group by 287.5% during the fourth 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. Finally, Steph & Co. acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at $27,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GS has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Rothschild & Co Redburn upped 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. Dbs Bank raised their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. CICC Research lifted their target price on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Finally, Bank of America boosted their target price on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Two 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 given a Sell rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus price target of $1,062.86.

The Goldman Sachs Group Price Performance

Shares of GS opened at $1,041.35 on Monday. The business has a 50-day moving average of $1,053.96 and a 200-day moving average of $964.52. 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 company has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.05 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 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 business had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. During the same quarter in the prior year, the firm posted $10.91 EPS. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Stockholders of record on Tuesday, September 1st will be paid a $5.00 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 27.78%.

The Goldman Sachs Group News Roundup

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 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.