NFJ Investment Group LLC Buys 26,440 Shares of The Goldman Sachs Group, Inc. $GS

NFJ Investment Group LLC raised its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 202.3% in the second quarter, HoldingsChannel.com reports. The firm owned 39,512 shares of the investment management company’s stock after purchasing an additional 26,440 shares during the quarter. The Goldman Sachs Group accounts for approximately 1.4% of NFJ Investment Group LLC’s portfolio, making the stock its 21st biggest holding. NFJ Investment Group LLC’s holdings in The Goldman Sachs Group were worth $39,961,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GS. Vanguard Group Inc. increased its position in shares of The Goldman Sachs Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company’s stock worth $25,503,685,000 after buying an additional 418,820 shares during the period. BlackRock Inc. acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth about $24,172,123,000. State Street Corp raised its position in shares of The Goldman Sachs Group by 2.1% in the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock worth $17,197,444,000 after acquiring an additional 394,198 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of The Goldman Sachs Group by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company’s stock valued at $5,952,199,000 after purchasing an additional 110,134 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of The Goldman Sachs Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company’s stock valued at $5,896,795,000 after purchasing an additional 45,266 shares during the period. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

GS stock opened at $1,041.35 on Monday. 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 business has a 50-day simple moving average of $1,053.96 and a two-hundred day simple moving average of $964.52. The company has a market capitalization of $303.21 billion, a P/E 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 52-week low of $718.58 and a 52-week high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data 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 Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The firm had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. During the same period in the prior year, the business posted $10.91 earnings per share. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. Research analysts expect 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 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 positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is presently 27.78%.

The Goldman Sachs Group News Summary

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 Upgrades and Downgrades

Several research firms recently commented on GS. UBS Group raised their target price on The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Jefferies Financial Group set a $1,299.00 price target on The Goldman Sachs Group in a research note on Wednesday, July 15th. HSBC raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Morgan Stanley set a $1,145.00 price target on shares of The Goldman Sachs Group in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,062.86.

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.