Fragasso Financial Advisors Inc Cuts Stake in The Goldman Sachs Group, Inc. $GS

Fragasso Financial Advisors Inc lessened its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 24.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,437 shares of the investment management company’s stock after selling 779 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in The Goldman Sachs Group were worth $1,925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Heartwood Wealth Advisors LLC purchased a new position in shares of The Goldman Sachs Group in the third quarter worth about $45,000. TruWealth Advisors LLC bought a new position in The Goldman Sachs Group during the 3rd quarter worth approximately $21,502,000. Greenfield Savings Bank purchased a new position in The Goldman Sachs Group in the 3rd quarter worth approximately $221,000. Nilsine Partners LLC lifted its position in The Goldman Sachs Group by 23.9% in the third quarter. Nilsine Partners LLC now owns 7,065 shares of the investment management company’s stock valued at $5,626,000 after purchasing an additional 1,365 shares during the last quarter. Finally, Morangie Management LLC lifted its position in The Goldman Sachs Group by 4.0% in the third quarter. Morangie Management LLC now owns 7,468 shares of the investment management company’s stock valued at $5,947,000 after purchasing an additional 288 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on GS. Wells Fargo & Company lifted their target price on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 16th. Daiwa Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $700.00 to $765.00 and gave the company a “neutral” rating in a research note on Thursday, October 16th. Zacks Research cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Rothschild & Co Redburn boosted their price target on The Goldman Sachs Group from $608.00 to $748.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $787.06.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $879.49 on Wednesday. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $919.10. The stock has a market capitalization of $263.78 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.17 and a beta of 1.36. The company’s 50-day moving average is $803.70 and its 200 day moving average is $749.05. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.65 and a quick ratio of 0.65.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.The business had revenue of $15.18 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the previous year, the firm posted $8.40 EPS. The business’s revenue was up 19.5% on a year-over-year basis. On average, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be paid a $4.00 dividend. This represents a $16.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 32.50%.

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.