Ninepoint Partners LP Buys New Shares in The Goldman Sachs Group, Inc. $GS

Ninepoint Partners LP bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 547 shares of the investment management company’s stock, valued at approximately $553,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GS. BlackRock Inc. acquired a new position in shares of The Goldman Sachs Group in the second quarter valued at about $24,172,123,000. Norges Bank purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $2,515,830,000. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth about $69,537,544,000. Bank of New York Mellon Corp acquired a new stake in shares of The Goldman Sachs Group during the second quarter worth about $2,560,028,000. Finally, Corient Private Wealth LLC boosted its position in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock valued at $2,282,312,000 after buying an additional 2,448,767 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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

The Goldman Sachs Group Price Performance

Shares of NYSE GS 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 firm has a fifty day moving average of $1,053.96 and a 200 day moving average of $964.40. The firm has a market cap of $303.21 billion, a PE ratio of 16.07, a PEG ratio of 1.05 and a beta of 1.30. The Goldman Sachs Group, Inc. has a one year low of $718.58 and a one year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating 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 business had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same period last year, the firm posted $10.91 earnings per share. The company’s revenue was up 39.4% compared to the same quarter last year. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a dividend of $5.00 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group’s payout ratio is currently 27.78%.

Analyst Ratings Changes

Several equities analysts recently weighed in on GS shares. BMO Capital Markets increased their price target on shares of The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the stock a “market perform” rating in a report on Wednesday, July 15th. UBS Group lifted their price objective on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Bank of America upped their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Morgan Stanley set a $1,145.00 price objective on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. Finally, Daiwa Securities Group raised their target price on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,062.86.

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.