The Goldman Sachs Group, Inc. $GS Shares Sold by Danske Bank A S

Danske Bank A S reduced its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,763 shares of the investment management company’s stock after selling 23,994 shares during the quarter. Danske Bank A S owned about 0.08% of The Goldman Sachs Group worth $228,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gables Capital Management Inc. increased its position in The Goldman Sachs Group by 4.9% during the 2nd quarter. Gables Capital Management Inc. now owns 1,380 shares of the investment management company’s stock worth $1,396,000 after purchasing an additional 65 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in The Goldman Sachs Group in the 2nd quarter valued at about $53,720,000. Foster & Motley Inc. acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $4,707,000. Cypress Asset Management Inc. TX grew its holdings in shares of The Goldman Sachs Group by 0.3% during the second quarter. Cypress Asset Management Inc. TX now owns 14,371 shares of the investment management company’s stock worth $14,534,000 after buying an additional 45 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter worth about $50,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

More 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

The Goldman Sachs Group Trading Up 3.9%

NYSE GS opened at $1,041.35 on Friday. The Goldman Sachs Group, Inc. has a one year low of $718.58 and a one year high of $1,153.99. The company’s 50 day moving average price is $1,053.96 and its 200 day moving average price is $964.40. 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 firm has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.02 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $20.34 billion during the quarter, compared to the consensus estimate of $16.22 billion. During the same period in the previous year, the firm earned $10.91 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. 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. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 27.78%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GS. HSBC raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citigroup lifted their target price on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Dbs Bank boosted their price target on The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Weiss Ratings raised The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Jefferies Financial Group set a $1,299.00 price objective on The Goldman Sachs Group in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price 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.