Fragasso Financial Advisors Inc Acquires Shares of 3,116 The Goldman Sachs Group, Inc. (NYSE:GS)

Fragasso Financial Advisors Inc bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,116 shares of the investment management company's stock, valued at approximately $1,702,000.

A number of other institutional investors have also added to or reduced their stakes in GS. Geode Capital Management LLC grew its stake in shares of The Goldman Sachs Group by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 6,584,202 shares of the investment management company's stock valued at $3,761,576,000 after buying an additional 161,500 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 6,155,336 shares of the investment management company's stock valued at $3,524,669,000 after buying an additional 112,696 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock valued at $2,172,423,000 after buying an additional 3,970,467 shares during the last quarter. FMR LLC boosted its holdings in shares of The Goldman Sachs Group by 23.7% during the fourth quarter. FMR LLC now owns 3,586,348 shares of the investment management company's stock worth $2,053,614,000 after purchasing an additional 687,711 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of The Goldman Sachs Group by 15.0% during the fourth quarter. Northern Trust Corp now owns 3,292,679 shares of the investment management company's stock worth $1,885,454,000 after purchasing an additional 428,502 shares during the period. Institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on GS. Barclays lowered their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Daiwa America downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Citigroup cut their target price on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $690.00 to $660.00 in a research report on Thursday, February 27th. Finally, Morgan Stanley set a $558.00 target price on shares of The Goldman Sachs Group and gave the stock an "equal weight" rating in a research report on Monday, April 7th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, The Goldman Sachs Group presently has an average rating of "Hold" and a consensus price target of $593.40.

Insider Activity at The Goldman Sachs Group

In other news, Director John B. Hess purchased 3,904 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were bought at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the acquisition, the director now owns 3,904 shares of the company's stock, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group Price Performance

NYSE GS traded up $8.22 on Thursday, reaching $607.43. The company had a trading volume of 875,138 shares, compared to its average volume of 2,364,658. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a market capitalization of $186.38 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32. The firm's 50 day moving average price is $553.22 and its 200 day moving average price is $582.47. The Goldman Sachs Group, Inc. has a 12 month low of $437.37 and a 12 month high of $672.19.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same period in the previous year, the firm posted $11.58 EPS. As a group, equities analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, May 30th. This represents a $12.00 annualized dividend and a yield of 1.98%. The Goldman Sachs Group's payout ratio is 27.85%.

The Goldman Sachs Group Company 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.