Fifth Third Bancorp Raises Position in Goldman Sachs Group Inc (GS)

Fifth Third Bancorp boosted its stake in Goldman Sachs Group Inc (NYSE:GS) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,077 shares of the investment management company’s stock after buying an additional 2,413 shares during the quarter. Fifth Third Bancorp’s holdings in Goldman Sachs Group were worth $37,465,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. HM Payson & Co. raised its holdings in Goldman Sachs Group by 15.9% in the 2nd quarter. HM Payson & Co. now owns 1,551 shares of the investment management company’s stock valued at $342,000 after acquiring an additional 213 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Goldman Sachs Group by 1.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 14,452 shares of the investment management company’s stock valued at $3,188,000 after acquiring an additional 214 shares during the last quarter. Physicians Financial Services Inc. raised its holdings in Goldman Sachs Group by 16.5% in the 2nd quarter. Physicians Financial Services Inc. now owns 1,515 shares of the investment management company’s stock valued at $334,000 after acquiring an additional 215 shares during the last quarter. Manchester Capital Management LLC raised its holdings in Goldman Sachs Group by 6.1% in the 2nd quarter. Manchester Capital Management LLC now owns 3,943 shares of the investment management company’s stock valued at $870,000 after acquiring an additional 225 shares during the last quarter. Finally, Comerica Securities Inc. raised its holdings in Goldman Sachs Group by 4.4% in the 3rd quarter. Comerica Securities Inc. now owns 5,378 shares of the investment management company’s stock valued at $1,206,000 after acquiring an additional 225 shares during the last quarter. 70.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE GS opened at $179.67 on Friday. The company has a market cap of $68.48 billion, a PE ratio of 9.09, a PEG ratio of 0.60 and a beta of 1.11. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.90 and a quick ratio of 0.90. Goldman Sachs Group Inc has a 1 year low of $179.00 and a 1 year high of $275.31.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.38 by $0.90. The business had revenue of $8.65 billion during the quarter, compared to the consensus estimate of $8.43 billion. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 14.10%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $5.02 EPS. On average, sell-side analysts expect that Goldman Sachs Group Inc will post 25.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, November 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.78%. Goldman Sachs Group’s payout ratio is currently 16.19%.

A number of research firms have commented on GS. Credit Suisse Group cut their price objective on shares of Goldman Sachs Group from $280.00 to $258.00 and set an “outperform” rating for the company in a report on Friday. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $249.00 price objective for the company in a report on Tuesday, November 13th. Bank of America cut their price target on shares of Goldman Sachs Group to $280.00 in a report on Sunday, December 2nd. Wolfe Research began coverage on shares of Goldman Sachs Group in a report on Tuesday, September 25th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $285.00 price target on shares of Goldman Sachs Group in a report on Tuesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $271.15.

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About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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Institutional Ownership by Quarter for Goldman Sachs Group (NYSE:GS)

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