NFJ Investment Group LLC Buys 26,440 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• NFJ Investment Group more than tripled its Goldman Sachs stake in the second quarter, adding 26,440 shares to reach 39,512 shares valued at approximately $40.0 million. Institutional investors collectively own 71.21% of GS.
• Goldman Sachs reported strong quarterly results, with EPS of $20.98 and revenue of $20.34 billion, both well above analyst estimates; revenue increased 39.4% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $1,062.86. Goldman also raised its quarterly dividend to $5.00 per share, implying a 1.9% annualized yield.

NFJ Investment Group LLC raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 202.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,512 shares of the investment management company's stock after acquiring an additional 26,440 shares during the period. The Goldman Sachs Group makes up about 1.4% of NFJ Investment Group LLC's portfolio, making the stock its 21st biggest holding. NFJ Investment Group LLC's holdings in The Goldman Sachs Group were worth $39,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Audent Global Asset Management LLC raised its position in shares of The Goldman Sachs Group by 10.1% in the 4th quarter. Audent Global Asset Management LLC now owns 5,238 shares of the investment management company's stock valued at $4,604,000 after buying an additional 479 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $53,720,000. Oak Grove Capital LLC bought a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $1,890,000. Nomura Asset Management Co. Ltd. raised its position in The Goldman Sachs Group by 2.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 141,990 shares of the investment management company's stock valued at $124,809,000 after purchasing an additional 3,653 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in The Goldman Sachs Group by 35.0% during the fourth quarter. Global Retirement Partners LLC now owns 11,944 shares of the investment management company's stock worth $10,499,000 after purchasing an additional 3,098 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Key Stories Impacting The Goldman Sachs Group

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

Wall Street Analyst Weigh In

GS has been the topic of a number of research analyst reports. Weiss Ratings raised The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. UBS Group lifted their price target on shares of The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. CICC Research upped their price objective on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. Rothschild & Co Redburn increased their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a "neutral" rating in a research note on Thursday, June 25th. Finally, Jefferies Financial Group set a $1,299.00 target price on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,062.86.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,041.35 on Monday. The firm has a market capitalization of $303.21 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.05 and a beta of 1.30. 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 business's 50-day moving average price is $1,053.96 and its 200-day moving average price is $964.52. The Goldman Sachs Group, Inc. has a 12 month low of $718.58 and a 12 month high of $1,153.99.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $14.47 by $6.51. The company 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 firm's revenue was up 39.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.91 earnings per share. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed 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. 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 currently 27.78%.

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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