OVERSEA CHINESE BANKING Corp Ltd Has $8.08 Million Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• OVERSEA CHINESE BANKING Corp Ltd cut its Goldman Sachs stake by 50.2% in the second quarter, selling 8,042 shares and retaining 7,991 shares valued at approximately $8.08 million.
• Goldman Sachs reported quarterly EPS of $20.98, well above the $14.47 consensus estimate, while revenue rose 39.4% year over year to $20.34 billion.
• The company raised its quarterly dividend from $4.50 to $5.00 per share, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $1,062.86.

OVERSEA CHINESE BANKING Corp Ltd reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 50.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,991 shares of the investment management company's stock after selling 8,042 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in The Goldman Sachs Group were worth $8,083,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of The Goldman Sachs Group during the second quarter valued at approximately $24,172,123,000. Norges Bank bought a new stake in The Goldman Sachs Group during the fourth quarter worth $2,515,830,000. Orange County Employees Retirement System purchased a new stake in The Goldman Sachs Group in the 2nd quarter valued at $69,537,544,000. Bank of New York Mellon Corp bought a new position in The Goldman Sachs Group during the 2nd quarter valued at $2,560,028,000. Finally, Corient Private Wealth LLC lifted its stake in The Goldman Sachs Group by 1,657.7% during the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company's stock valued at $2,282,312,000 after acquiring an additional 2,448,767 shares in the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Up 3.9%

GS stock opened at $1,041.35 on Friday. The stock's fifty day simple moving average is $1,053.96 and its two-hundred day simple moving average is $964.40. 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 Goldman Sachs Group, Inc. has a 1-year low of $718.58 and a 1-year high of $1,153.99. The stock has a market cap of $303.21 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.05 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results 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 firm had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The business's revenue was up 39.4% compared to the same quarter last year. During the same period last year, the firm posted $10.91 EPS. Analysts expect 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 dividend of $5.00 per share. This represents a $20.00 dividend on an annualized basis and a yield of 1.9%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. The Goldman Sachs Group's dividend payout ratio is 27.78%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GS shares. Morgan Stanley set a $1,145.00 target price on shares of The Goldman Sachs Group in a research note on Wednesday, July 15th. CICC Research raised their price target on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the company an "outperform" rating in a research report on Tuesday, May 19th. Oppenheimer cut shares of The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a report on Tuesday, June 30th. 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. Finally, Wall Street Zen lowered shares of The Goldman Sachs Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Two equities research 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 stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of "Moderate Buy" and an average target price of $1,062.86.

More The Goldman Sachs Group News

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 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.

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