Mill Capital Management LLC Acquires Shares of 2,539 The Goldman Sachs Group, Inc. $GS

Key Points

• Mill Capital Management initiated a position in Goldman Sachs, purchasing 2,539 shares valued at approximately $2.57 million. Institutional investors collectively own 71.21% of the company.
• Goldman Sachs reported strong quarterly results, with earnings per share of $20.98 and revenue of $20.34 billion, beating estimates and representing 39.4% year-over-year revenue growth.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $1,062.86, while Goldman increased its quarterly dividend to $5.00 per share, implying a 1.9% yield.

Mill Capital Management LLC bought a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,539 shares of the investment management company's stock, valued at approximately $2,568,000.

Other institutional investors also recently modified their holdings of the company. Turim 21 Investimentos Ltda. bought a new stake in The Goldman Sachs Group during the first quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new position in The Goldman Sachs Group in the fourth quarter worth $26,000. Manning & Napier Advisors LLC grew its stake in 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 valued at $27,000 after purchasing an additional 23 shares during the period. Steph & Co. bought a new position in The Goldman Sachs Group in the 1st quarter valued at $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $29,000. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on GS shares. Rothschild & Co Redburn lifted their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a "neutral" rating in a research report on Thursday, June 25th. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. UBS Group raised their price target on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Evercore reaffirmed an "outperform" rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. Finally, HSBC upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,062.86.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $1,039.68 on Wednesday. The Goldman Sachs Group, Inc. has a 52-week low of $705.55 and a 52-week high of $1,153.99. The stock's 50-day simple moving average is $1,054.62 and its 200 day simple moving average is $962.79. 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 market capitalization of $302.72 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $20.34 billion for the quarter, compared to analysts' expectations of $16.22 billion. During the same period in the prior year, the business posted $10.91 earnings per share. The company's revenue was up 39.4% on a year-over-year basis. Research analysts forecast that The Goldman Sachs Group, Inc. will post 68.89 EPS 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. Stockholders of record on Tuesday, September 1st will be issued a $5.00 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $4.50. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group's payout ratio is currently 27.78%.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs agreed to acquire real-estate investment manager LCN Capital Partners for up to $410 million, including $260 million upfront and as much as $150 million in performance-based consideration. About 80% of the purchase price will reportedly be paid in stock. LCN manages approximately $3 billion in assets and specializes in sale-leasebacks, build-to-suit projects and triple-net leases, adding recurring-fee capabilities to Goldman’s roughly $4 trillion asset-management platform. Goldman Sachs buys LCN Capital Partners
• Positive Sentiment: The LCN transaction is Goldman’s second asset-management deal in a week, following its planned acquisition of ETF provider Neos Investments for as much as approximately $2.25 billion. The strategy could diversify revenue away from more cyclical trading and investment-banking activities and accelerate long-term fee growth. Goldman Sachs to acquire ETF provider Neos
• Positive Sentiment: CEO David Solomon expressed strong confidence in Nvidia and participated in discussions about a proposed $500 billion AI infrastructure financing plan. Goldman could benefit from financing, advisory and capital-markets fees if AI investment accelerates, though the plan also introduces potential underwriting and credit risks. Goldman CEO discusses Nvidia and AI financing
• Neutral Sentiment: Goldman disclosed a 3.05% voting stake in QIAGEN, while a separate filing showed its Ontex holding fluctuating near the 3% disclosure threshold. These appear to be investment or client-position disclosures rather than changes to Goldman’s operating outlook. Goldman Sachs discloses QIAGEN stake
• Negative Sentiment: Goldman warned that consumer-spending growth could become sluggish as the boost from elevated tax refunds fades. A weaker consumer backdrop could reduce transaction activity and weigh on economic expectations, potentially offsetting benefits from stronger capital-markets conditions. Goldman warns of consumer spending slowdown

The Goldman Sachs Group Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source