Fifth Third Bancorp Sells 23,625 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Fifth Third Bancorp reduced its stake in The Goldman Sachs Group by 10.4%, owning 203,628 shares valued at approximately $144 million after selling 23,625 shares in the second quarter.
• Several institutional investors have significantly increased their positions in Goldman Sachs, with Kingstone Capital Partners increasing their stake by over 617,000% during the same period.
• The Goldman Sachs Group announced a quarterly dividend increase from $3.00 to $4.00 per share, which translates to an annual yield of 2.0%.

Fifth Third Bancorp trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 10.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 203,628 shares of the investment management company's stock after selling 23,625 shares during the period. Fifth Third Bancorp owned 0.07% of The Goldman Sachs Group worth $144,118,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in GS. Kingstone Capital Partners Texas LLC increased its position in The Goldman Sachs Group by 617,504.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 29,058,291 shares of the investment management company's stock worth $20,566,005,000 after buying an additional 29,053,586 shares during the period. GAMMA Investing LLC increased its position in The Goldman Sachs Group by 63,864.7% in the 1st quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after buying an additional 3,970,467 shares during the period. International Assets Investment Management LLC bought a new position in The Goldman Sachs Group in the 1st quarter worth approximately $1,766,238,000. Nuveen LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth approximately $897,185,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of The Goldman Sachs Group by 102.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock worth $8,065,000 after purchasing an additional 585,084 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price objective on The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Morgan Stanley lifted their price objective on The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $665.00.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total value of $5,406,197.20. Following the transaction, the chief financial officer owned 18,594 shares of the company's stock, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 in the last three months. Company insiders own 0.55% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of GS stock opened at $806.62 on Wednesday. The stock's fifty day simple moving average is $741.95 and its 200 day simple moving average is $641.68. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $244.18 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.68 and a beta of 1.41. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The company had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The business's revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.62 earnings per share. On average, analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is presently 35.26%.

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.

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