The Goldman Sachs Group, Inc. $GS Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lowered its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 5.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,324 shares of the investment management company’s stock after selling 2,490 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in The Goldman Sachs Group were worth $43,817,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Sky Investment Group LLC increased its holdings in shares of The Goldman Sachs Group by 0.9% in the 2nd quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock valued at $1,181,000 after acquiring an additional 10 shares during the last quarter. Warren Street Wealth Advisors LLC lifted its stake in The Goldman Sachs Group by 3.9% during the second quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock worth $272,000 after purchasing an additional 10 shares during the last quarter. Pines Wealth Management LLC boosted its holdings in The Goldman Sachs Group by 0.4% in the fourth quarter. Pines Wealth Management LLC now owns 2,566 shares of the investment management company’s stock worth $2,255,000 after purchasing an additional 11 shares during the period. Welch & Forbes LLC boosted its holdings in The Goldman Sachs Group by 0.8% in the fourth quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock worth $1,257,000 after purchasing an additional 11 shares during the period. Finally, First Financial Group Corp increased its stake in The Goldman Sachs Group by 4.7% during the first quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock valued at $208,000 after purchasing an additional 11 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

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

The Goldman Sachs Group (NYSE:GS) last announced its quarterly 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 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 net margin of 15.53% and a return on equity of 19.16%. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.91 earnings per share. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a $5.00 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend and a yield of 1.9%. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s payout ratio is 27.78%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GS. JPMorgan Chase & Co. increased their target price on shares of The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Bank of America lifted their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Weiss Ratings raised shares of The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Finally, Barclays raised their target price on shares of The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Two equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company 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 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.