Meeder Advisory Services Inc. Invests $9.63 Million in The Goldman Sachs Group, Inc. $GS

Meeder Advisory Services Inc. purchased a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,522 shares of the investment management company’s stock, valued at approximately $9,630,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted 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 purchasing an additional 508 shares during the period. Revolve Wealth Partners LLC lifted its holdings 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 buying an additional 58 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings 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 buying an additional 735 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of The Goldman Sachs Group by 9.3% in the second quarter. Schnieders Capital Management LLC. now owns 821 shares of the investment management company’s stock valued at $581,000 after acquiring an additional 70 shares during the period. Finally, Main Street Financial Solutions LLC boosted its position in shares of The Goldman Sachs Group by 22.2% in the second quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the investment management company’s stock valued at $1,522,000 after acquiring an additional 391 shares during the period. 71.21% of the stock is currently owned by institutional investors.

Trending Headlines about 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

The Goldman Sachs Group Trading Up 3.9%

Shares of GS opened at $1,041.35 on Friday. The Goldman Sachs Group, Inc. has a 1-year low of $718.58 and a 1-year high of $1,153.99. The company has a market capitalization of $303.21 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.02 and a beta of 1.30. 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 firm’s 50 day simple moving average is $1,053.96 and its 200 day simple moving average is $964.40.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.91 EPS. Sell-side analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a $5.00 dividend. This is a boost 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 ex-dividend date of this dividend is Tuesday, September 1st. The Goldman Sachs Group’s payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GS shares. Morgan Stanley set a $1,145.00 target price on shares of The Goldman Sachs Group in a report 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 report on Tuesday, May 19th. Wall Street Zen lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Citigroup upped their price target on shares of The Goldman Sachs Group from $1,100.00 to $1,200.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $1,195.00 to $1,325.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,062.86.

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.