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

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc grew its stake in The Goldman Sachs Group by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares during the period. Dimensional Fund Advisors LP grew its position in shares of The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock valued at $957,684,000 after acquiring an additional 68,141 shares during the period. Jennison Associates LLC increased its stake in shares of The Goldman Sachs Group by 18.0% during the 1st quarter. Jennison Associates LLC now owns 1,801,395 shares of the investment management company’s stock worth $752,425,000 after purchasing an additional 274,509 shares during the last quarter. Capital Wealth Planning LLC raised its holdings in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Capital Wealth Planning LLC now owns 1,193,401 shares of the investment management company’s stock worth $498,472,000 after purchasing an additional 3,396 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in The Goldman Sachs Group by 34.8% in the second quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock valued at $381,598,000 after purchasing an additional 217,954 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GS. Evercore ISI lifted their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays boosted their target price on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, UBS Group raised their price objective 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. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Price Performance

GS stock traded up $1.20 during trading hours on Tuesday, hitting $519.00. 703,995 shares of the stock traded hands, compared to its average volume of 2,209,592. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $540.51. The company has a market cap of $167.36 billion, a P/E ratio of 20.28, a P/E/G ratio of 0.77 and a beta of 1.36. 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 stock has a 50-day simple moving average of $498.80 and a 200 day simple moving average of $470.64.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $5.47 earnings per share. Equities analysts forecast that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.31%. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

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.