Focused Alpha LLC Invests $2.17 Million in The Goldman Sachs Group, Inc. $GS

Focused Alpha LLC bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 2,146 shares of the investment management company’s stock, valued at approximately $2,171,000.

A number of other hedge funds have also recently added to or reduced their stakes in GS. BlackRock Inc. purchased a new position in The Goldman Sachs Group in the second quarter valued at $24,172,123,000. Norges Bank acquired a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $2,515,830,000. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at about $69,537,544,000. Bank of New York Mellon Corp purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $2,560,028,000. Finally, Corient Private Wealth LLC raised its holdings in The Goldman Sachs Group by 1,657.7% in the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after purchasing an additional 2,448,767 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings upgraded The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. BNP Paribas Exane reduced their target price on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Daiwa Securities Group lifted their price target on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. Finally, Oppenheimer cut shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,062.86.

Key Headlines Impacting The Goldman Sachs Group

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 Trading Up 3.9%

Shares of GS opened at $1,041.35 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $718.58 and a 52-week high of $1,153.99. The stock has a market cap of $303.21 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.30. The firm’s fifty day moving average is $1,053.96 and its two-hundred day moving average is $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 Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the business earned $10.91 earnings per share. Research analysts forecast 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. This represents a $20.00 dividend on an annualized basis and a 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 payout ratio is currently 27.78%.

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.