International Assets Investment Management LLC Purchases New Shares in The Goldman Sachs Group, Inc. $GS

International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,393,552 shares of the investment management company’s stock, valued at approximately $2,024,921,000. The Goldman Sachs Group accounts for about 47.2% of International Assets Investment Management LLC’s portfolio, making the stock its largest holding. International Assets Investment Management LLC owned about 0.81% of The Goldman Sachs Group at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GS. Dagco Inc. purchased a new position in shares of The Goldman Sachs Group during the 4th quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in The Goldman Sachs Group in the 4th quarter worth $26,000. Manning & Napier Advisors LLC raised its position in The Goldman Sachs Group by 287.5% during the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after acquiring an additional 23 shares during the period. Steph & Co. acquired a new position in The Goldman Sachs Group during the first quarter worth $27,000. Finally, Lifetime Wealth Management P.C. purchased a new position in The Goldman Sachs Group during the fourth quarter valued at $29,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group News Summary

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 14,292 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider directly owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This trade represents a 47.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sheara J. Fredman sold 10,301 shares of The Goldman Sachs Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the transaction, the chief accounting officer owned 6,338 shares in the company, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,681 shares of company stock valued at $31,737,875 in the last quarter. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS traded up $0.07 during mid-day trading on Friday, reaching $1,056.04. The company’s stock had a trading volume of 1,110,031 shares, compared to its average volume of 1,972,365. The stock has a 50-day moving average of $1,017.99 and a two-hundred day moving average of $938.64. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $311.54 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.35 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 1-year low of $691.30 and a 1-year high of $1,125.00.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.92 by $1.63. The company had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The Goldman Sachs Group’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $14.12 EPS. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a $4.50 dividend. This represents a $18.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is presently 32.89%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GS. Daiwa Securities Group lifted their target price on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. UBS Group raised their price target on shares of The Goldman Sachs Group from $940.00 to $1,120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Bank of America lifted their price objective on The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Morgan Stanley boosted their price objective on The Goldman Sachs Group from $1,021.00 to $1,099.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $986.91.

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.