53,116 Shares in The Goldman Sachs Group, Inc. $GS Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, HoldingsChannel reports. The fund purchased 53,116 shares of the investment management company’s stock, valued at approximately $53,720,000.

Other hedge funds also recently added to or reduced their stakes in the company. Garton & Associates Financial Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $26,000. Turim 21 Investimentos Ltda. acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $25,000. Manning & Napier Advisors LLC lifted its position in The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after acquiring an additional 23 shares in the last quarter. Steph & Co. purchased a new position in The Goldman Sachs Group in the 1st quarter worth approximately $27,000. Finally, Lifetime Wealth Management P.C. purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $29,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $1,041.35 on Friday. 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 1 year low of $718.58 and a 1 year high of $1,153.99. The firm’s 50-day simple moving average is $1,053.96 and its 200-day simple moving average is $964.40. The firm has a market cap of $303.21 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the firm earned $10.91 earnings per share. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Daiwa Securities Group lifted their price objective 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. Bank of America upped their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. UBS Group raised their price target on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. CICC Research lifted their price target on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 19th. Finally, Rothschild & Co Redburn boosted their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Two 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 issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,062.86.

Key Stories 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 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.