The Goldman Sachs Group, Inc. $GS Position Trimmed by Manhattan West Asset Management LLC

Manhattan West Asset Management LLC trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 14.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,720 shares of the investment management company’s stock after selling 824 shares during the period. The Goldman Sachs Group accounts for 0.8% of Manhattan West Asset Management LLC’s portfolio, making the stock its 28th biggest position. Manhattan West Asset Management LLC’s holdings in The Goldman Sachs Group were worth $4,775,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Keebeck Wealth Management boosted its holdings in shares of The Goldman Sachs Group by 18.6% in the 2nd quarter. Keebeck Wealth Management now owns 2,019 shares of the investment management company’s stock valued at $2,042,000 after buying an additional 316 shares during the period. Thoroughbred Financial Services LLC raised its stake in The Goldman Sachs Group by 1.5% during the second quarter. Thoroughbred Financial Services LLC now owns 5,641 shares of the investment management company’s stock worth $5,706,000 after acquiring an additional 86 shares during the period. Patron Partners LLC raised its stake in The Goldman Sachs Group by 12.1% during the second quarter. Patron Partners LLC now owns 1,564 shares of the investment management company’s stock worth $1,582,000 after acquiring an additional 169 shares during the period. OneAscent Family Office LLC bought a new position in The Goldman Sachs Group in the second quarter worth about $254,000. Finally, Greenspring Advisors LLC lifted its holdings in The Goldman Sachs Group by 3.3% in the second quarter. Greenspring Advisors LLC now owns 1,796 shares of the investment management company’s stock worth $1,816,000 after acquiring an additional 57 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

GS opened at $1,041.35 on Monday. The company has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The Goldman Sachs Group, Inc. has a 1-year low of $718.58 and a 1-year high of $1,153.99. The business has a 50 day moving average price of $1,053.96 and a two-hundred day moving average price of $964.52.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $16.22 billion. During the same period last year, the company posted $10.91 EPS. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.78%.

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

Analysts Set New Price Targets

A number of equities analysts have commented on GS shares. Dbs Bank lifted their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Wall Street Zen lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Bank of America upped their price objective on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Finally, CICC Research increased their target price on The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Two investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.