Citizens Financial Group Inc. RI Makes New $47.46 Million Investment in The Goldman Sachs Group, Inc. $GS

Key Points

• Citizens Financial Group acquired 46,924 Goldman Sachs shares worth approximately $47.46 million in the second quarter, making GS its 29th-largest holding. Institutional investors collectively own 71.21% of Goldman Sachs.
• Goldman Sachs reported quarterly earnings of $20.98 per share, significantly exceeding the $14.47 consensus estimate, while revenue rose 39.4% year over year to $20.34 billion.
• The company increased its quarterly dividend from $4.50 to $5.00 per share, implying a $20 annualized payout and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $1,062.86.

Citizens Financial Group Inc. RI bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 46,924 shares of the investment management company's stock, valued at approximately $47,457,000. The Goldman Sachs Group comprises approximately 0.6% of Citizens Financial Group Inc. RI's investment portfolio, making the stock its 29th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of GS. Texas Capital Bank Wealth Management Services Inc purchased a new position in The Goldman Sachs Group in the second quarter valued at about $352,000. Cornerstone Advisors LLC acquired a new stake in shares of The Goldman Sachs Group in the second quarter valued at approximately $22,219,000. Tortoise Investment Management LLC bought a new stake in shares of The Goldman Sachs Group during the second quarter valued at about $716,000. Aegis Wealth Management LLC acquired a new stake in The Goldman Sachs Group in the second quarter worth approximately $208,000. Finally, Buckland Partners Management Co LLC acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter worth approximately $4,045,000. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $1,041.35 on Friday. The company 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 Goldman Sachs Group, Inc. has a 1-year low of $718.58 and a 1-year high of $1,153.99. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17. The company has a 50 day moving average of $1,053.96 and a 200-day moving average of $964.40.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping 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 company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same period in the previous year, the firm earned $10.91 earnings per share. The firm's quarterly revenue was up 39.4% on a year-over-year basis. As a group, equities 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be given a dividend of $5.00 per share. 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. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. The Goldman Sachs Group's dividend payout ratio (DPR) is 27.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GS shares. Dbs Bank raised their price objective on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. BNP Paribas Exane reduced their price objective on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating for the company in a research report on Friday, April 24th. CICC Research increased their price objective on shares of 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. Zacks Research upgraded shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Finally, BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a "market perform" rating in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,062.86.

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

The Goldman Sachs Group Profile

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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