Engineers Gate Manager LP Trims Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Engineers Gate Manager LP cut its Goldman Sachs position by 91.8% in the second quarter, selling 34,645 shares and retaining 3,107 shares worth approximately $3.14 million. Institutional investors collectively own 71.21% of GS stock.
• Goldman Sachs reported strong quarterly results, with EPS of $20.98 and revenue of $20.34 billion, exceeding analyst estimates; revenue increased 39.4% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,062.86.
• The company raised its quarterly dividend to $5.00 per share from $4.50, equating to an annualized dividend of $20.00 and a yield of approximately 1.9%.

Engineers Gate Manager LP decreased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 91.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,107 shares of the investment management company's stock after selling 34,645 shares during the period. Engineers Gate Manager LP's holdings in The Goldman Sachs Group were worth $3,142,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GS. Brighton Jones LLC increased its stake in The Goldman Sachs Group by 17.1% in the 4th 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 in the last quarter. Revolve Wealth Partners LLC boosted its stake 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 worth $508,000 after acquiring an additional 58 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of The Goldman Sachs Group by 90.1% in the second quarter. Sivia Capital Partners LLC now owns 1,551 shares of the investment management company's stock worth $1,098,000 after acquiring an additional 735 shares during the period. Schnieders Capital Management LLC. grew its position in shares of The Goldman Sachs Group by 9.3% during the second quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company's stock worth $581,000 after purchasing an additional 70 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of The Goldman Sachs Group by 22.2% during the second quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company's stock worth $1,522,000 after purchasing an additional 391 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Citigroup increased their price objective on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a "market perform" rating in a research report on Wednesday, July 15th. HSBC raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. 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, nine have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of "Moderate Buy" and a consensus price target of $1,062.86.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $1,029.19 on Monday. The company has a market cap of $299.67 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.04 and a beta of 1.29. The Goldman Sachs Group, Inc. has a 1 year low of $740.01 and a 1 year high of $1,153.99. The stock's 50 day simple moving average is $1,044.84 and its two-hundred day simple moving average is $976.26. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted 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 firm had revenue of $20.34 billion during the quarter, compared to the consensus estimate 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 quarterly 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. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.9%. The Goldman Sachs Group's payout ratio is presently 30.87%.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs is deepening its technology investment by opening a Bellevue, Washington, engineering hub expected to house more than 125 employees focused on artificial intelligence and cloud technology. The move could strengthen Goldman’s internal capabilities, improve efficiency and help attract technology talent. Goldman Sachs deepens AI push with new Pacific Northwest engineering hub
• Positive Sentiment: Goldman is serving as an underwriter or distribution agent for several equity offerings, including Corning’s proposed $2 billion at-the-market program and Oklo’s $1 billion offering. These mandates can generate underwriting and distribution fees and highlight the strength of Goldman’s capital-markets franchise, although the share issuance itself benefits the client companies rather than GS directly. Corning Announces $2 Billion At-The-Market Equity Program
• Positive Sentiment: Goldman’s research activity and presence at its Communacopia + Technology conference continue to generate visibility across technology and financial-services markets, supporting its advisory, trading and institutional-client franchises. Goldman also raised its Coinbase price target and reiterated a Buy rating, illustrating ongoing coverage of emerging financial-market opportunities. Goldman Sachs Sees AI Reshaping Institutional Investing
• Neutral Sentiment: Goldman named Farshid Asl and Matt Weir co-heads of its Investment Strategy Group as Sharmin Mossavar-Rahmani prepares to retire. The transition provides continuity but introduces leadership-change risk for a prominent research and advisory function. Goldman Sachs investment strategy chief Mossavar-Rahmani to retire
• Neutral Sentiment: Goldman’s second-quarter 13F showed increased holdings of Micron and Amazon. The filing reflects Goldman’s investment positions and does not directly change GS earnings, though it reinforces the firm’s focus on major artificial-intelligence beneficiaries. Goldman Sachs and Billionaires Like These 2 AI Stocks

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc NYSE: GS is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individuals. The company is headquartered in New York City and serves clients across North America, Europe, Asia-Pacific and other international markets.

Through its Global Banking & Markets segment, Goldman Sachs advises clients on mergers and acquisitions, capital raising, restructuring and other strategic transactions.

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