607 Shares in The Goldman Sachs Group, Inc. $GS Bought by IMG Wealth Management Inc.

IMG Wealth Management Inc. purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the 2nd quarter, HoldingsChannel reports. The firm purchased 607 shares of the investment management company’s stock, valued at approximately $614,000. The Goldman Sachs Group accounts for 0.3% of IMG Wealth Management Inc.’s portfolio, making the stock its 22nd largest holding.

Other hedge funds also recently bought and sold shares of the company. Focused Alpha LLC purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $2,171,000. MidFirst Bank acquired a new position in shares of The Goldman Sachs Group during the second quarter worth about $15,759,000. Paladin Partners LLC purchased a new stake in shares of The Goldman Sachs Group during the second quarter worth approximately $58,000. BlackRock Inc. purchased a new stake in shares of The Goldman Sachs Group during the second quarter worth approximately $24,172,123,000. Finally, Occidental Asset Management LLC acquired a new stake in The Goldman Sachs Group in the second quarter valued at approximately $569,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GS. Oppenheimer downgraded shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a research report on Wednesday, July 15th. Dbs Bank raised their price objective on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a report on Thursday, May 7th. Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Rothschild & Co Redburn boosted their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Two investment 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,062.86.

The Goldman Sachs Group Price Performance

GS stock opened at $1,041.35 on Friday. The business has a 50 day moving average price of $1,053.96 and a 200 day moving average price of $964.40. 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 1.02 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 announced its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 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 company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same period in the prior year, the firm posted $10.91 earnings per share. The firm’s revenue was up 39.4% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be issued a $5.00 dividend. 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 currently 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

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.