Fifth Third Wealth Advisors LLC Raises Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Fifth Third Wealth Advisors LLC lifted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,279 shares of the investment management company's stock after purchasing an additional 1,295 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in The Goldman Sachs Group were worth $8,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GS. Jackson Grant Investment Advisers Inc. increased its stake in shares of The Goldman Sachs Group by 10.9% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 163 shares of the investment management company's stock valued at $93,000 after purchasing an additional 16 shares in the last quarter. Ledyard National Bank boosted its position in shares of The Goldman Sachs Group by 3.4% in the 4th quarter. Ledyard National Bank now owns 486 shares of the investment management company's stock worth $278,000 after purchasing an additional 16 shares in the last quarter. Seelaus Asset Management LLC raised its stake in The Goldman Sachs Group by 2.5% during the fourth quarter. Seelaus Asset Management LLC now owns 660 shares of the investment management company's stock valued at $378,000 after buying an additional 16 shares during the last quarter. Pointe Capital Management LLC boosted its holdings in The Goldman Sachs Group by 1.0% in the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company's stock worth $951,000 after acquiring an additional 16 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC grew its stake in shares of The Goldman Sachs Group by 1.5% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 1,179 shares of the investment management company's stock worth $675,000 after acquiring an additional 17 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Up 1.2%

NYSE GS traded up $7.34 during trading on Thursday, reaching $606.55. 824,286 shares of the company's stock traded hands, compared to its average volume of 2,364,486. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The company's 50 day simple moving average is $553.22 and its two-hundred day simple moving average 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 firm has a market cap of $186.11 billion, a price-to-earnings ratio of 14.96, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32.

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

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 1.98%. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.85%.

Insiders Place Their Bets

In related news, Director John B. Hess bought 3,904 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was acquired at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the purchase, the director now directly owns 3,904 shares of the company's stock, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GS. Morgan Stanley set a $558.00 price target on The Goldman Sachs Group and gave the company an "equal weight" rating in a report on Monday, April 7th. Evercore ISI cut their price objective on shares of The Goldman Sachs Group from $660.00 to $594.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. JMP Securities reduced their target price on shares of The Goldman Sachs Group from $625.00 to $600.00 and set a "market outperform" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada dropped their price objective on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 15th. Finally, Daiwa Capital Markets downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 target price on the stock. in a report on Friday, April 4th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $593.40.

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.