10,265 Shares in The Goldman Sachs Group, Inc. $GS Acquired by K.J. Harrison & Partners Inc

Key Points

• K.J. Harrison & Partners acquired 10,265 Goldman Sachs shares worth approximately $10.4 million in the second quarter, making GS about 1.5% of its portfolio. Institutional investors collectively own 71.21% of the company.
• Goldman Sachs reported strong quarterly results, with EPS of $20.98 versus the $14.47 consensus and revenue of $20.34 billion, up 39.4% year over year.
• The company raised its quarterly dividend to $5.00 per share, or $20 annually, representing a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,062.86.

K.J. Harrison & Partners Inc bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,265 shares of the investment management company's stock, valued at approximately $10,382,000. The Goldman Sachs Group comprises approximately 1.5% of K.J. Harrison & Partners Inc's portfolio, making the stock its 13th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of The Goldman Sachs Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock valued at $25,503,685,000 after purchasing an additional 418,820 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth $24,172,123,000. State Street Corp grew its stake in The Goldman Sachs Group by 2.1% during the 4th quarter. State Street Corp now owns 19,564,783 shares of the investment management company's stock worth $17,197,444,000 after buying an additional 394,198 shares during the last quarter. Fisher Asset Management LLC grew its stake in The Goldman Sachs Group by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company's stock worth $5,952,199,000 after buying an additional 110,134 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in The Goldman Sachs Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 6,726,721 shares of the investment management company's stock valued at $5,896,795,000 after buying an additional 45,266 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $1,041.35 on Friday. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a 50-day moving average of $1,053.96 and a two-hundred day moving average of $964.40. The stock has a market cap of $303.21 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.02 and a beta of 1.30. The Goldman Sachs Group, Inc. has a one year low of $718.58 and a one year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share 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 business had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same period in the prior year, the company earned $10.91 earnings per share. The company's revenue was up 39.4% on a year-over-year basis. As a group, research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be issued a $5.00 dividend. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend and a yield of 1.9%. The Goldman Sachs Group's dividend payout ratio is currently 27.78%.

Key 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

GS has been the subject of a number of research analyst reports. CICC Research increased their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an "outperform" rating in a research note on Tuesday, May 19th. Evercore restated an "outperform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Weiss Ratings upgraded shares of The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Finally, Rothschild & Co Redburn lifted their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on 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.

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