First Commonwealth Financial Corp PA Grows Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

First Commonwealth Financial Corp PA lifted its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,155 shares of the investment management company’s stock after buying an additional 257 shares during the period. First Commonwealth Financial Corp PA’s holdings in The Goldman Sachs Group were worth $1,234,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Asset Management One Co. Ltd. boosted its position in The Goldman Sachs Group by 2.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 224,148 shares of the investment management company’s stock valued at $129,144,000 after buying an additional 5,541 shares during the last quarter. Baxter Bros Inc. boosted its holdings in The Goldman Sachs Group by 1.0% in the fourth quarter. Baxter Bros Inc. now owns 15,506 shares of the investment management company’s stock valued at $8,879,000 after purchasing an additional 151 shares during the last quarter. Erste Asset Management GmbH grew its stake in The Goldman Sachs Group by 5.9% during the 4th quarter. Erste Asset Management GmbH now owns 5,743 shares of the investment management company’s stock valued at $3,309,000 after purchasing an additional 320 shares in the last quarter. Franklin Street Advisors Inc. NC increased its holdings in The Goldman Sachs Group by 8.1% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company’s stock worth $21,934,000 after purchasing an additional 2,863 shares during the last quarter. Finally, Atlas Legacy Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $356,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $499.65 on Thursday. 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 firm has a market capitalization of $155.91 billion, a PE ratio of 12.32, a P/E/G ratio of 0.89 and a beta of 1.33. The Goldman Sachs Group, Inc. has a 1-year low of $401.18 and a 1-year high of $672.19. The business’s fifty day moving average price is $567.52 and its two-hundred day moving average price is $572.00.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 11.32% and a return on equity of 13.30%. During the same quarter last year, the company earned $11.58 EPS. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.40%. The Goldman Sachs Group’s dividend payout ratio is presently 29.59%.

Analyst Ratings Changes

A number of analysts have recently weighed in on GS shares. Evercore ISI decreased their price target 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. Oppenheimer downgraded shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 19th. Daiwa Capital Markets lowered 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 research note on Friday, April 4th. Morgan Stanley set a $558.00 price target on The Goldman Sachs Group and gave the stock an “equal weight” rating in a research note on Monday, April 7th. Finally, Wells Fargo & Company cut their price objective on The Goldman Sachs Group from $680.00 to $650.00 and set an “overweight” rating on the stock in a research note on Tuesday. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus price target of $593.40.

Insider Buying and Selling

In other news, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the completion of the sale, the insider now directly owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This represents a 59.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 2,034 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $627.01, for a total transaction of $1,275,338.34. Following the transaction, the chief accounting officer now owns 6,455 shares in the company, valued at $4,047,349.55. This represents a 23.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock valued at $12,630,683 in the last three months. 0.55% of the stock is currently 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.