Rakuten Securities Inc. Sells 1,852 Shares of The Goldman Sachs Group, Inc. $GS

Rakuten Securities Inc. reduced its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 69.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 823 shares of the investment management company’s stock after selling 1,852 shares during the quarter. Rakuten Securities Inc.’s holdings in The Goldman Sachs Group were worth $832,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GS. BOK Financial Private Wealth Inc. boosted its stake in shares of The Goldman Sachs Group by 188.9% during the 2nd quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock worth $26,000 after acquiring an additional 17 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $26,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $25,000. Manning & Napier Advisors LLC increased its stake in shares of The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Finally, Steph & Co. bought a new position in The Goldman Sachs Group in the 1st quarter worth $27,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Analysts Set New Price Targets

GS has been the topic of a number of analyst reports. HSBC raised The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Bank of America increased their target price on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Citigroup raised their target price on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Rothschild & Co Redburn lifted their price target on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Finally, Dbs Bank upped their price target on shares of The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,062.86.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $1,041.35 on Monday. The firm has a fifty day simple moving average of $1,053.96 and a two-hundred day simple moving average of $964.52. The Goldman Sachs Group, Inc. has a 52 week low of $718.58 and a 52 week high of $1,153.99. 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 capitalization of $303.21 billion, a P/E ratio of 16.07, a PEG ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.47 by $6.51. The firm had revenue of $20.34 billion for 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 business’s revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the company earned $10.91 EPS. On average, 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a $5.00 dividend. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend 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 is 27.78%.

Trending Headlines about 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

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.