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

First Commonwealth Financial Corp PA lifted its stake in shares of 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 fund owned 2,155 shares of the investment management company’s stock after purchasing an additional 257 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in The Goldman Sachs Group were worth $1,234,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GS. Stephens Consulting LLC purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group in the fourth quarter worth $29,000. Curio Wealth LLC acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at $30,000. Whipplewood Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter worth $34,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of The Goldman Sachs Group during the 4th quarter worth $37,000. 71.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on GS shares. Royal Bank of Canada decreased their price objective on shares of The Goldman Sachs Group from $610.00 to $560.00 and set a “sector perform” rating on the stock in a report on Tuesday. Citigroup decreased their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Daiwa Capital Markets downgraded The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Friday, April 4th. Morgan Stanley set a $558.00 target price on The Goldman Sachs Group and gave the stock an “equal weight” rating in a research report on Monday, April 7th. Finally, Barclays dropped their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a research report on Tuesday. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Hold” and a consensus price target of $593.40.

The Goldman Sachs Group Stock Performance

Shares of GS opened at $499.65 on Thursday. The Goldman Sachs Group, Inc. has a 1 year low of $401.18 and a 1 year high of $672.19. The company’s 50 day simple moving average is $567.52 and its 200 day simple moving average is $572.00. The company has a market capitalization of $155.91 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.89 and a beta of 1.33. 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 Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results 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 company had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. During the same quarter in the prior year, the company posted $11.58 EPS. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Announces Dividend

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

Insider Buying and Selling

In related news, insider Alex S. Golten sold 5,208 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total value of $3,313,590.00. Following the transaction, the insider now directly owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Treasurer Carey Halio sold 1,545 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the sale, the treasurer now directly owns 8,192 shares of the company’s stock, valued at approximately $5,117,296.64. This trade represents a 15.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,925 shares of company stock valued at $12,630,683. Insiders own 0.55% of the company’s stock.

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.