The Goldman Sachs Group, Inc. $GS Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 35.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 293,126 shares of the investment management company’s stock after purchasing an additional 76,771 shares during the period. Fifth Third Bancorp’s holdings in The Goldman Sachs Group were worth $247,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dagco Inc. acquired a new stake in The Goldman Sachs Group during the 4th quarter valued at $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $26,000. Manning & Napier Advisors LLC increased its stake in shares of The Goldman Sachs Group by 287.5% during the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after purchasing an additional 23 shares during the last quarter. Steph & Co. acquired a new position in The Goldman Sachs Group during the first quarter worth $27,000. Finally, Lifetime Wealth Management P.C. bought a new position in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $29,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GS shares. Royal Bank Of Canada restated a “neutral” rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Daiwa Securities Group lifted their price objective on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Oppenheimer lowered The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research report on Tuesday, June 30th. Evercore restated an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Finally, CICC Research upped their price target on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $986.91.

Insider Buying and Selling

In related news, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the completion of the transaction, the chief accounting officer directly owned 6,338 shares of the company’s stock, valued at approximately $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 6,857 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the transaction, the chief financial officer owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 33,681 shares of company stock worth $31,737,875 over the last 90 days. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What’s in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

The Goldman Sachs Group Stock Up 0.0%

Shares of GS traded up $0.07 during midday trading on Friday, hitting $1,056.04. The stock had a trading volume of 1,110,031 shares, compared to its average volume of 1,972,365. The firm has a market cap of $311.54 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.30. The company has a 50 day simple moving average of $1,017.99 and a two-hundred day simple moving average of $938.64. The Goldman Sachs Group, Inc. has a twelve month low of $691.30 and a twelve month high of $1,125.00. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.63 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.92 by $1.63. The company had revenue of $17.23 billion for the quarter, compared to the consensus estimate of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company earned $14.12 earnings per share. On average, analysts anticipate that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 1st were paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, June 1st. The Goldman Sachs Group’s dividend payout ratio is currently 32.89%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.