Fifth Third Wealth Advisors LLC Has $11.87 Million Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in The Goldman Sachs Group by 3.0%, now holding approximately $11.87 million in the company's stock.
• Goldman Sachs shares have an average price target of $727.31, with ratings ranging from Buy to Sell by various research analysts.
• The company recently announced a quarterly dividend of $4.00, increasing from its previous $3.00, resulting in a 2.1% yield.

Fifth Third Wealth Advisors LLC increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,765 shares of the investment management company's stock after purchasing an additional 486 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in The Goldman Sachs Group were worth $11,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dogwood Wealth Management LLC lifted its position in The Goldman Sachs Group by 1,800.0% during the 2nd quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company's stock worth $26,000 after acquiring an additional 36 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group during the 1st quarter worth $25,000. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth $29,000. Ridgewood Investments LLC lifted its position in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock worth $38,000 after purchasing an additional 17 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of The Goldman Sachs Group by 46.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company's stock worth $38,000 after purchasing an additional 23 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GS shares. HSBC upped their price target on The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. Zacks Research lowered The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Hsbc Global Res cut shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. JMP Securities reiterated a "market perform" rating and set a $600.00 target price on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, UBS Group upped their target price on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the company a "neutral" rating in a research note on Tuesday. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of "Hold" and an average price target of $727.31.

The Goldman Sachs Group Trading Down 1.9%

Shares of GS stock opened at $765.14 on Friday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The stock has a market cap of $231.62 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.47 and a beta of 1.42. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a fifty day moving average of $760.79 and a 200-day moving average of $662.32.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The company had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the prior year, the company posted $8.62 EPS. The business's revenue was up 14.5% on a year-over-year basis. On average, equities research analysts forecast 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 business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 29th. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is currently 35.26%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of the transaction, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John E. Waldron sold 9,244 shares of the stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $750.11, for a total value of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company's stock, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

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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