EverSource Wealth Advisors LLC Has $4.85 Million Stock Position in The Goldman Sachs Group, Inc. $GS

Key Points

• EverSource Wealth Advisors cut its Goldman Sachs stake by 42.1% in the second quarter, selling 3,491 shares and retaining 4,796 shares worth approximately $4.85 million. Institutional investors and hedge funds collectively own 71.21% of GS.
• Goldman Sachs reported a strong quarter, with EPS of $20.98 versus the $14.47 consensus and revenue of $20.34 billion, up 39.4% year over year and well above estimates.
• The company raised its quarterly dividend to $5.00 per share from $4.50, implying an annualized dividend of $20 and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,062.86.

EverSource Wealth Advisors LLC lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 42.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,796 shares of the investment management company's stock after selling 3,491 shares during the quarter. EverSource Wealth Advisors LLC's holdings in The Goldman Sachs Group were worth $4,850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Turim 21 Investimentos Ltda. acquired a new stake in The Goldman Sachs Group in the 1st quarter worth about $25,000. Garton & Associates Financial Advisors LLC bought a new stake in The Goldman Sachs Group in the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC grew its position in shares of The Goldman Sachs Group by 287.5% during 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. Steph & Co. acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth approximately $27,000. Finally, Lifetime Wealth Management P.C. bought a new position in shares of The Goldman Sachs Group during the fourth quarter worth approximately $29,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $1,050.79 on Tuesday. The firm has a 50 day moving average of $1,054.45 and a 200-day moving average of $962.07. The Goldman Sachs Group, Inc. has a 12 month low of $705.55 and a 12 month 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 stock has a market capitalization of $305.96 billion, a PE ratio of 16.22, a PEG ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The firm's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter last year, the business posted $10.91 EPS. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS 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. Shareholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. The ex-dividend date is Tuesday, September 1st. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. 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%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GS shares. 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 report on Tuesday, May 5th. BNP Paribas Exane reduced their price target on The Goldman Sachs Group from $970.00 to $940.00 and set a "neutral" rating on the stock in a research report on Friday, April 24th. HSBC upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. BMO Capital Markets lifted their price objective on 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. Finally, Evercore reiterated an "outperform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Two research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,062.86.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Goldman’s view that a September rate hike is unlikely helped lift broader risk sentiment and could benefit GS through stronger trading, capital-markets and dealmaking conditions. The firm also said markets may still be too hawkish as inflation cools. Odds of Fed Rate Hike This Year Fall as Goldman Sachs Warns Against Hawkish Bets
• Positive Sentiment: GS remains positioned as a potential earnings outperformer: analysts identified it among five highly ranked stocks expected to beat consensus estimates in upcoming results. That view follows the company’s latest quarterly report, which significantly exceeded earnings and revenue expectations. Looking for Earnings Beat? Buy These 5 Top-Ranked Stocks
• Neutral Sentiment: Goldman’s research highlighted that artificial intelligence was mentioned by 65% of S&P 500 companies during second-quarter earnings calls, but only a small fraction quantified its earnings impact. The finding reinforces GS’s role in AI-related market research while suggesting that near-term corporate profit benefits remain uncertain. 65% of S&P 500 companies mentioned AI on Q2 earnings calls
• Negative Sentiment: Goldman warned that consumer-spending growth could become sluggish as the boost from higher tax refunds fades. A consumer slowdown could weigh on economic activity, credit demand and investor confidence, partially offsetting the benefits of easier financial conditions. Goldman Sachs warns of consumer spending slowdown as tax refund boost fades

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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