Peloton Wealth Strategists Raises Stock Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Peloton Wealth Strategists increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 17.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,495 shares of the investment management company’s stock after purchasing an additional 530 shares during the period. Peloton Wealth Strategists’ holdings in The Goldman Sachs Group were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GS. Donald Smith & CO. Inc. lifted its position in The Goldman Sachs Group by 0.4% during the 2nd quarter. Donald Smith & CO. Inc. now owns 52,403 shares of the investment management company’s stock worth $16,902,000 after acquiring an additional 205 shares in the last quarter. Moran Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 85.3% during the second quarter. Moran Wealth Management LLC now owns 1,961 shares of the investment management company’s stock worth $633,000 after purchasing an additional 903 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of The Goldman Sachs Group by 9.8% in the second quarter. Gamco Investors INC. ET AL now owns 6,436 shares of the investment management company’s stock valued at $2,076,000 after purchasing an additional 575 shares during the period. Carlson Capital L P grew its holdings in The Goldman Sachs Group by 13.3% during the 2nd quarter. Carlson Capital L P now owns 15,300 shares of the investment management company’s stock valued at $4,935,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Edgestream Partners L.P. increased its stake in The Goldman Sachs Group by 3.8% during the 2nd quarter. Edgestream Partners L.P. now owns 2,671 shares of the investment management company’s stock worth $862,000 after buying an additional 98 shares during the period. 69.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Goldman Sachs Group Inc sold 72,874 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $0.71, for a total transaction of $51,740.54. Following the transaction, the insider now directly owns 397,954 shares in the company, valued at approximately $282,547.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GS has been the topic of several recent analyst reports. StockNews.com initiated coverage on The Goldman Sachs Group in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley decreased their price objective on shares of The Goldman Sachs Group from $347.00 to $329.00 and set an “equal weight” rating for the company in a report on Tuesday, October 3rd. HSBC began coverage on shares of The Goldman Sachs Group in a research note on Thursday, September 7th. They issued a “buy” rating and a $403.00 target price on the stock. Atlantic Securities raised The Goldman Sachs Group from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $330.00 to $351.00 in a report on Tuesday, August 1st. Finally, Oppenheimer upped their price objective on The Goldman Sachs Group from $447.00 to $468.00 and gave the company an “outperform” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $393.76.

The Goldman Sachs Group Stock Performance

GS stock traded down $0.17 during trading on Monday, reaching $339.02. 91,892 shares of the company’s stock were exchanged, compared to its average volume of 2,369,274. The firm has a market cap of $110.56 billion, a PE ratio of 16.42, a P/E/G ratio of 1.98 and a beta of 1.43. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 2.11. The Goldman Sachs Group, Inc. has a 1-year low of $289.36 and a 1-year high of $389.44. The company’s fifty day moving average price is $319.07 and its 200-day moving average price is $326.66.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 17th. The investment management company reported $5.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.42 by $0.05. The Goldman Sachs Group had a net margin of 7.77% and a return on equity of 7.37%. The firm had revenue of $11.82 billion during the quarter, compared to analyst estimates of $11.15 billion. During the same quarter in the prior year, the firm posted $8.25 EPS. The Goldman Sachs Group’s revenue was down 1.3% compared to the same quarter last year. On average, research analysts expect that The Goldman Sachs Group, Inc. will post 22.98 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be issued a dividend of $2.75 per share. The ex-dividend date is Wednesday, November 29th. This represents a $11.00 annualized dividend and a yield of 3.24%. The Goldman Sachs Group’s payout ratio is 53.24%.

The Goldman Sachs Group 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 resale agreements.