NewEdge Advisors LLC Boosts Stake in The Goldman Sachs Group, Inc. $GS

NewEdge Advisors LLC grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 62,498 shares of the investment management company’s stock after buying an additional 4,672 shares during the quarter. NewEdge Advisors LLC’s holdings in The Goldman Sachs Group were worth $63,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Sky Investment Group LLC grew its stake in The Goldman Sachs Group by 0.9% in the 2nd quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock valued at $1,181,000 after purchasing an additional 10 shares during the period. Warren Street Wealth Advisors LLC raised its stake in shares of The Goldman Sachs Group by 3.9% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock worth $272,000 after purchasing an additional 10 shares during the period. Welch & Forbes LLC boosted its holdings in shares of The Goldman Sachs Group by 0.8% in the 4th quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock worth $1,257,000 after buying an additional 11 shares during the last quarter. First Financial Group Corp grew its position in The Goldman Sachs Group by 4.7% during the first quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock valued at $208,000 after buying an additional 11 shares during the period. Finally, Meadow Creek Wealth Advisors LLC increased its holdings in The Goldman Sachs Group by 1.7% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company’s stock worth $569,000 after buying an additional 11 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $1,034.99 on Wednesday. The business’s 50-day moving average price is $1,044.54 and its two-hundred day moving average price is $973.81. The Goldman Sachs Group, Inc. has a twelve month low of $738.54 and a twelve month high of $1,153.99. The stock has a market cap of $301.36 billion, a P/E ratio of 15.97, a PEG ratio of 1.05 and a beta of 1.29. 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 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, topping analysts’ consensus estimates 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 posted $10.91 EPS. The firm’s revenue was up 39.4% compared to the same quarter last year. As a group, equities 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 firm also recently disclosed 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 dividend on an annualized basis 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 30.87%.

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman agreed to pay approximately $2.25 billion for the firm behind a popular Bitcoin-income ETF. The deal would expand Goldman’s asset-management and digital-asset capabilities, although investors will assess whether the price paid can generate attractive returns. Goldman Is Paying $2.25 Billion for the Firm Behind This Bitcoin Income Fund
• Positive Sentiment: The bank opened a Bellevue, Washington, engineering office for more than 125 employees focused on artificial intelligence and cloud transformation. The investment could improve operating efficiency and support technology-led products over time. Goldman expands AI push with new engineering office in Bellevue
• Positive Sentiment: Goldman is expanding its Canadian asset-management business through a deal with IG Wealth Management and has recently added pension-related assets. The moves could increase recurring management fees and diversify revenue beyond investment banking. Goldman expands in Canada via asset management deal with IG
• Neutral Sentiment: Goldman’s warnings that Brent crude could reach $120 per barrel if Strait of Hormuz disruptions worsen are increasing its visibility in commodities markets. Higher volatility may benefit trading revenue, but prolonged supply shocks could also raise inflation and recession risks for the broader financial sector. Goldman Sachs flips on oil-price forecasts and says $120 Brent could be next
• Neutral Sentiment: Goldman participated in India’s ARCIL IPO anchor round and was reported among major holders of XRP ETFs. These items reinforce its capital-markets and digital-asset activity but appear too small to materially change near-term earnings.
• Negative Sentiment: Analysts warn that capital-markets momentum is fading in the third quarter, creating the risk of uneven results for major banks. That concern may be prompting investors to lock in gains after GS rose 38.6% over the past year. Capital Markets Momentum Fades: What it Means for Big Banks in Q3

Analysts Set New Price Targets

GS has been the subject of a number of research reports. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a research note on Wednesday, July 15th. CICC Research increased their price objective on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Citigroup raised their target price on The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings upgraded The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Two 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 company. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average target price of $1,062.86.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc (NYSE:GS) is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individuals. The company is headquartered in New York City and serves clients across North America, Europe, Asia-Pacific and other international markets.

Through its Global Banking & Markets segment, Goldman Sachs advises clients on mergers and acquisitions, capital raising, restructuring and other strategic transactions.