The Goldman Sachs Group, Inc. $GS Shares Sold by Manhattan West Asset Management LLC

Manhattan West Asset Management LLC reduced its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 14.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,720 shares of the investment management company’s stock after selling 824 shares during the quarter. The Goldman Sachs Group accounts for 0.8% of Manhattan West Asset Management LLC’s holdings, 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after buying an additional 508 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock valued at $508,000 after buying an additional 58 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of The Goldman Sachs Group by 90.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company’s stock valued at $1,098,000 after acquiring an additional 735 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in shares of The Goldman Sachs Group by 9.3% during the 2nd quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company’s stock valued at $581,000 after acquiring an additional 70 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in shares of The Goldman Sachs Group by 22.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company’s stock worth $1,522,000 after acquiring an additional 391 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $1,041.35 on Monday. The company’s fifty day moving average is $1,053.96 and its two-hundred day moving average is $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 Goldman Sachs Group, Inc. has a 12-month low of $718.58 and a 12-month high of $1,153.99. The company has a market cap of $303.21 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last released its 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 company had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The company’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.91 earnings per share. Equities analysts expect 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. Investors of record on Tuesday, September 1st will be paid a $5.00 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 annualized dividend and a yield of 1.9%. This is an increase 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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. 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 report on Tuesday, May 5th. Bank of America increased their price target on The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Morgan Stanley set a $1,145.00 price target on The Goldman Sachs Group in a research note on Wednesday, July 15th. UBS Group boosted their price objective on The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Finally, Zacks Research raised shares of The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Two research 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 stock. According to data from MarketBeat, The Goldman Sachs Group 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.