Pegasus Asset Management Inc. Has $6.70 Million Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Pegasus Asset Management Inc. trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 0.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 13,535 shares of the investment management company’s stock after selling 128 shares during the quarter. The Goldman Sachs Group comprises about 2.6% of Pegasus Asset Management Inc.’s portfolio, making the stock its 14th biggest holding. Pegasus Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $6,701,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GS. POM Investment Strategies LLC bought a new position in The Goldman Sachs Group during the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group in the second quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of 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% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock traded up $1.20 on Tuesday, reaching $519.00. The stock had a trading volume of 703,995 shares, compared to its average volume of 2,209,592. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $540.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The company has a market cap of $167.36 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The business’s 50 day moving average is $498.80 and its two-hundred day moving average is $470.64.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The Goldman Sachs Group’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.47 earnings per share. As a group, research analysts anticipate that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed 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. This represents a $12.00 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 46.86%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the topic of several research reports. 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. UBS Group lifted their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. BMO Capital Markets boosted their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Finally, Oppenheimer upped their price target on The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Company 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.