Fifth Third Bancorp Grows Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Fifth Third Bancorp boosted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 205,747 shares of the investment management company’s stock after purchasing an additional 13,959 shares during the quarter. Fifth Third Bancorp’s holdings in The Goldman Sachs Group were worth $117,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. West Branch Capital LLC purchased a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at $30,000. DT Investment Partners LLC grew its holdings in shares of The Goldman Sachs Group by 110.0% during the third quarter. DT Investment Partners LLC now owns 63 shares of the investment management company’s stock worth $31,000 after purchasing an additional 33 shares during the last quarter. Truvestments Capital LLC acquired a new stake in shares of The Goldman Sachs Group during the third quarter worth about $34,000. Country Trust Bank purchased a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at about $37,000. Finally, Hershey Financial Advisers LLC purchased a new position in The Goldman Sachs Group during the 2nd quarter worth approximately $38,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their target price on shares of The Goldman Sachs Group from $550.00 to $605.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer lowered their price target on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $686.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, January 16th. Finally, Citigroup upped their price target on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price of $591.06.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $636.80 on Friday. The business has a 50 day moving average price of $590.34 and a 200 day moving average price of $534.48. The company has a market capitalization of $199.90 billion, a P/E ratio of 15.70, a PEG ratio of 0.88 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 1-year low of $374.24 and a 1-year high of $645.54. 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 Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 earnings per share for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to analysts’ expectations of $12.36 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted $5.48 earnings per share. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 46.81 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be given a $3.00 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $12.00 annualized dividend and a dividend yield of 1.88%. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

Insider Transactions at The Goldman Sachs Group

In related news, insider Kathryn H. Ruemmler sold 7,498 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $634.69, for a total transaction of $4,758,905.62. Following the transaction, the insider now owns 9,589 shares of the company’s stock, valued at approximately $6,086,042.41. This represents a 43.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at $5,046,795.39. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,017 shares of company stock valued at $19,655,538 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

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.