Fifth Third Wealth Advisors LLC Acquires New Shares in The Goldman Sachs Group, Inc. (NYSE:GS)

Fifth Third Wealth Advisors LLC bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,249 shares of the investment management company’s stock, valued at approximately $1,357,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GS. Versant Capital Management Inc lifted its stake in The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after purchasing an additional 34 shares in the last quarter. First United Bank & Trust purchased a new position in The Goldman Sachs Group during the fourth quarter worth about $26,000. Pineridge Advisors LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at about $32,000. Finally, Truvestments Capital LLC increased its position in shares of The Goldman Sachs Group by 88.0% in the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after purchasing an additional 44 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Stock Performance

GS stock traded up $6.36 on Friday, hitting $452.32. The company had a trading volume of 3,823,087 shares, compared to its average volume of 2,295,677. The stock has a market cap of $145.86 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 0.92 and a beta of 1.39. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18. The stock’s 50-day simple moving average is $448.04 and its 200 day simple moving average is $409.43. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $471.48.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The business had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same period last year, the firm posted $8.79 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th were given a $2.75 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.43%. The Goldman Sachs Group’s payout ratio is presently 42.95%.

Insider Activity

In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the transaction, the director now directly owns 623,425 shares in the company, valued at $269,475,456.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction 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 in the company, valued at approximately $269,475,456.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, 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. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $450.00 to $504.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. HSBC boosted their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. JMP Securities raised their target price on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $443.78.

About The Goldman Sachs Group

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.