Fifth Third Wealth Advisors LLC Buys Shares of 3,249 The Goldman Sachs Group, Inc. (NYSE:GS)

Fifth Third Wealth Advisors LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the first quarter, HoldingsChannel reports. The fund purchased 3,249 shares of the investment management company’s stock, valued at approximately $1,357,000.

Several other institutional investors have also recently added to or reduced their stakes in GS. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $1,903,374,000. Norges Bank acquired a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $1,120,119,000. Wellington Management Group LLP grew its position in shares of The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock worth $842,597,000 after acquiring an additional 464,954 shares in the last quarter. Morgan Stanley increased its holdings in shares of The Goldman Sachs Group by 7.8% in the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after acquiring an additional 412,383 shares during the last quarter. Finally, Capital World Investors lifted its stake in The Goldman Sachs Group by 6.0% during the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after purchasing an additional 338,181 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GS. BMO Capital Markets increased their target price on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. Evercore ISI upped their target price on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. HSBC upped their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Argus raised shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price target for the company in a report on Tuesday, April 16th. Finally, Royal Bank of Canada lifted their price objective on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $443.78.

The Goldman Sachs Group Trading Up 1.4 %

Shares of NYSE GS traded up $6.36 during mid-day trading on Friday, hitting $452.32. 3,823,087 shares of the company traded hands, compared to its average volume of 2,295,677. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.18. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $471.48. The stock has a market capitalization of $145.86 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.92 and a beta of 1.39. The business has a 50 day moving average of $448.04 and a two-hundred day moving average of $409.43.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The company had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. During the same period in the prior year, the firm earned $8.79 earnings per share. The business’s quarterly revenue was up 16.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 36.59 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were paid a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insiders Place Their Bets

In related news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the sale, the director now directly owns 623,425 shares in the company, valued at $269,475,456.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the transaction, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.