The Goldman Sachs Group, Inc. (NYSE:GS) Stock Position Lifted by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,898 shares of the investment management company’s stock after buying an additional 30 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in The Goldman Sachs Group were worth $940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. POM Investment Strategies LLC bought a new stake in The Goldman Sachs Group in the second quarter worth $26,000. Semmax Financial Advisors Inc. bought a new stake in The Goldman Sachs Group during the second quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group during the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. raised its position in shares of The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC lifted its stake in shares of The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after buying an additional 63 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GS shares. Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Wells Fargo & Company lifted their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. JMP Securities lifted their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Evercore ISI upped their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Oppenheimer raised their price objective on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $550.63.

The Goldman Sachs Group Stock Performance

GS stock traded up $2.61 during midday trading on Wednesday, reaching $608.11. 172,989 shares of the company’s stock traded hands, compared to its average volume of 2,216,565. The firm has a market capitalization of $190.89 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a 52 week low of $334.87 and a 52 week high of $611.30. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50-day moving average price of $534.27 and a two-hundred day moving average price of $496.57.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the previous year, the firm earned $5.47 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.97%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders sold 11,390 shares of company stock valued at $6,656,119. 0.57% of the stock is owned by corporate insiders.

The Goldman Sachs Group 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.