Pegasus Asset Management Inc. raised its holdings in shares of Goldman Sachs Group Inc (NYSE:GS) by 11.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,742 shares of the investment management company’s stock after buying an additional 891 shares during the period. Pegasus Asset Management Inc.’s holdings in Goldman Sachs Group were worth $1,960,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Commerzbank Aktiengesellschaft FI lifted its position in shares of Goldman Sachs Group by 6.3% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 110,521 shares of the investment management company’s stock valued at $24,378,000 after acquiring an additional 6,535 shares in the last quarter. Exane Asset Management purchased a new stake in shares of Goldman Sachs Group in the 2nd quarter valued at approximately $207,000. GAM Holding AG lifted its position in shares of Goldman Sachs Group by 44.1% in the 2nd quarter. GAM Holding AG now owns 6,040 shares of the investment management company’s stock valued at $1,332,000 after acquiring an additional 1,848 shares in the last quarter. HRS Investment Holdings LLC lifted its position in shares of Goldman Sachs Group by 25.0% in the 2nd quarter. HRS Investment Holdings LLC now owns 12,500 shares of the investment management company’s stock valued at $2,757,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Goldman Sachs Group by 3.2% in the 2nd quarter. Macquarie Group Ltd. now owns 92,279 shares of the investment management company’s stock valued at $20,353,000 after acquiring an additional 2,848 shares in the last quarter. Hedge funds and other institutional investors own 71.32% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Societe Generale upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. BMO Capital Markets increased their target price on shares of Goldman Sachs Group from $261.00 to $276.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $280.00 target price on shares of Goldman Sachs Group in a research report on Tuesday, July 17th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Goldman Sachs Group in a research report on Thursday, September 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $281.84.
Shares of Goldman Sachs Group stock traded down $0.41 during midday trading on Wednesday, reaching $227.79. 393,288 shares of the company’s stock traded hands, compared to its average volume of 3,671,721. The company has a market capitalization of $86.72 billion, a P/E ratio of 11.53, a P/E/G ratio of 0.75 and a beta of 1.15. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 2.63. Goldman Sachs Group Inc has a 52 week low of $208.40 and a 52 week high of $275.31.
Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 16th. The investment management company reported $6.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.38 by $0.90. The business had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.43 billion. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 13.57%. Goldman Sachs Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $5.02 EPS. On average, equities research analysts predict that Goldman Sachs Group Inc will post 25.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Thursday, November 29th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.40%. Goldman Sachs Group’s dividend payout ratio is currently 16.19%.
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Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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