The Goldman Sachs Group, Inc. $GS Shares Sold by Evolve Private Wealth LLC

Evolve Private Wealth LLC cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 50.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,648 shares of the investment management company’s stock after selling 1,645 shares during the period. Evolve Private Wealth LLC’s holdings in The Goldman Sachs Group were worth $1,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Madison Wealth Partners Inc acquired a new position in The Goldman Sachs Group during the second quarter worth $261,000. Varma Mutual Pension Insurance Co boosted its position in shares of The Goldman Sachs Group by 0.4% during the 2nd quarter. Varma Mutual Pension Insurance Co now owns 55,400 shares of the investment management company’s stock valued at $56,030,000 after acquiring an additional 200 shares during the last quarter. George Kaiser Family Foundation acquired a new stake in The Goldman Sachs Group during the second quarter worth about $573,000. TRB Wealth Management LLC increased its position in The Goldman Sachs Group by 15.8% during the second quarter. TRB Wealth Management LLC now owns 1,175 shares of the investment management company’s stock worth $1,188,000 after purchasing an additional 160 shares during the last quarter. Finally, Sumitomo Life Insurance Co. raised its stake in The Goldman Sachs Group by 0.6% during the second quarter. Sumitomo Life Insurance Co. now owns 24,746 shares of the investment management company’s stock worth $25,027,000 after purchasing an additional 149 shares during the period. 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

GS stock opened at $1,041.35 on Monday. The business has a 50 day moving average price of $1,053.96 and a 200 day moving average price of $964.52. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The stock has a market cap of $303.21 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.05 and a beta of 1.30. The Goldman Sachs Group, Inc. has a fifty-two week low of $718.58 and a fifty-two 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 earnings per share (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 company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same quarter last year, the company posted $10.91 earnings per share. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. Equities research analysts anticipate 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 firm 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 $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 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 is presently 27.78%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Wall Street Zen cut shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Daiwa Securities Group boosted their target price on The Goldman Sachs Group from $891.00 to $930.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Barclays upped their price target on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Finally, CICC Research increased their price target 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. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,062.86.

About The Goldman Sachs Group

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.