Institutional Investors Eye Goldman Sachs Amid Strong Earnings

The Goldman Sachs Group, Inc. (NYSE:GS) has caught the attention of institutional investors, including SCS Capital Management LLC, which purchased a new position in shares of GS during the second quarter. The fund acquired 14,978 shares of the investment management company's stock, valued at approximately $15,148,000.

Other institutional investors also modified their holdings of the company. Sky Investment Group LLC raised its position in GS by 0.9% during the 2nd quarter, while Warren Street Wealth Advisors LLC grew its position by 3.9% in the same period. Welch & Forbes LLC increased its stake in shares of GS by 0.8% in the fourth quarter.

Goldman Sachs' strong earnings report on July 14th, which beat analysts' consensus estimates, may have contributed to the increased interest from institutional investors. The company reported $20.98 earnings per share for the quarter and a revenue increase of 39.4% year-over-year.