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

First Commonwealth Financial Corp PA boosted its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,898 shares of the investment management company’s stock after acquiring an additional 30 shares during the period. First Commonwealth Financial Corp PA’s holdings in The Goldman Sachs Group were worth $940,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Mizuho Securities USA LLC raised its holdings in shares of The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after acquiring an additional 7,475,140 shares during the last quarter. AMF Tjanstepension AB raised its stake in The Goldman Sachs Group by 1,102.4% in the 2nd quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock valued at $366,780,000 after purchasing an additional 743,402 shares during the last quarter. FMR LLC lifted its holdings in The Goldman Sachs Group by 21.9% in the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after purchasing an additional 521,054 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of The Goldman Sachs Group by 7,932.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after purchasing an additional 438,754 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after buying an additional 356,512 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Hsbc Global Res downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Citigroup increased their target price on The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Finally, Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $550.63.

Insider Buying and Selling

In other news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction 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. This trade represents a 25.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now directly owns 57,614 shares in the company, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock valued at $6,656,119 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS traded up $2.61 during trading on Wednesday, hitting $608.11. 172,989 shares of the company traded hands, compared to its average volume of 2,216,565. The stock has a market capitalization of $190.89 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.88 and a beta of 1.35. The Goldman Sachs Group, Inc. has a one year low of $334.87 and a one year high of $611.30. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The business’s fifty day moving average is $534.27 and its 200-day moving average is $496.57.

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

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

About The Goldman Sachs Group

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.