Envestnet Portfolio Solutions lifts Goldman Sachs stake 14.7% in Q2

Envestnet's Q2 build in Goldman shares

Envestnet Portfolio Solutions Inc. raised its holdings in The Goldman Sachs Group, Inc. (NYSE: GS) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. After purchasing an additional 2,230 shares during the period, the institutional investor owned 17,422 shares of the investment management company, with the position reported at $17,606,000 as of the end of the most recent quarter.

Other large Q2 movers around GS

The same 13F cycle drew sizable new and expanded positions from other institutional investors. Wealthfront Advisers LLC opened a new GS stake valued at $53,720,000 in the second quarter, while Sax Wealth Advisors LLC lifted its holdings by 148.7% in the same period, ending with 3,529 shares worth $3,569,000 after adding 2,110 shares. From the fourth-quarter cohort, Audent Global Asset Management LLC raised its position by 10.1% to 5,238 shares valued at $4,604,000, Oak Grove Capital LLC opened a new position worth $1,890,000, and Nomura Asset Management Co. Ltd. expanded its stake by 2.6% to 141,990 shares worth $124,809,000. According to MarketBeat, institutional investors and hedge funds collectively own 71.21% of GS stock.

Goldman Sachs Q2 results and dividend update

Goldman Sachs reported second-quarter earnings per share of $20.98 against a $14.47 consensus, with revenue up 39.4% year over year to $20.34 billion. The firm also raised its quarterly dividend to $5.00 per share, equivalent to an annual yield of about 2.1%, according to figures cited in the MarketBeat summary.

Sell-side targets cluster between $870 and $1,300

Recent analyst actions span upgrades and downgrades. Citigroup cut its price target on GS from $1,200.00 to $1,050.00 with a "neutral" rating, while Oppenheimer downgraded the stock from "market perform" to "underperform" on Tuesday, June 30. Rothschild & Co Redburn lifted its target from $870.00 to $920.00 ("neutral") on Thursday, June 25, Bank of America raised its target from $1,150.00 to $1,300.00 with a "buy" rating on Thursday, July 16, and JPMorgan lifted its objective from $900.00 to $955.00 ("neutral") on Wednesday, July 15. MarketBeat's tally shows one Strong Buy, nine Buys, thirteen Holds and one Sell, yielding a consensus "Hold" rating and an average price target of $1,055.71.

Open items in the reporting

The American Market News version of the filing highlights a reference to "Palmer Square acquisition" as a potential growth driver but does not detail its size, timing, or status, leaving the deal's role in the GS thesis unresolved in the available reporting.