Triangle Securities Wealth Management Cuts Stake in The Goldman Sachs Group, Inc. (NYSE:GS)

Triangle Securities Wealth Management reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,560 shares of the investment management company’s stock after selling 173 shares during the quarter. The Goldman Sachs Group comprises approximately 1.1% of Triangle Securities Wealth Management’s holdings, making the stock its 24th largest position. Triangle Securities Wealth Management’s holdings in The Goldman Sachs Group were worth $2,939,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its stake in The Goldman Sachs Group by 44.3% during the third quarter. Fisher Asset Management LLC now owns 4,743,628 shares of the investment management company’s stock worth $1,390,120,000 after buying an additional 1,456,801 shares during the period. Maj Invest Holding A S boosted its stake in The Goldman Sachs Group by 140,326.4% during the third quarter. Maj Invest Holding A S now owns 702,132 shares of the investment management company’s stock worth $205,761,000 after buying an additional 701,632 shares during the period. Renaissance Technologies LLC purchased a new position in The Goldman Sachs Group during the second quarter worth $193,360,000. Wellington Management Group LLP boosted its stake in The Goldman Sachs Group by 58.5% during the first quarter. Wellington Management Group LLP now owns 1,298,015 shares of the investment management company’s stock worth $428,474,000 after buying an additional 479,032 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in The Goldman Sachs Group by 4.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,351,832 shares of the investment management company’s stock worth $2,777,682,000 after buying an additional 427,352 shares during the period. 69.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $6.43, for a total transaction of $25,720,000.00. Following the sale, the insider now owns 17,099,784 shares in the company, valued at $109,951,611.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GS shares. StockNews.com started coverage on shares of The Goldman Sachs Group in a research note on Thursday. They set a “hold” rating for the company. Wolfe Research downgraded The Goldman Sachs Group from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft decreased their target price on The Goldman Sachs Group from $370.00 to $345.00 in a research report on Friday, January 6th. Morgan Stanley decreased their target price on The Goldman Sachs Group from $356.00 to $332.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 18th. Finally, Credit Suisse Group set a $410.00 target price on The Goldman Sachs Group in a research report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $399.24.

The Goldman Sachs Group Stock Down 3.7 %

The Goldman Sachs Group stock traded down $11.55 during trading hours on Friday, reaching $303.54. The stock had a trading volume of 6,369,764 shares, compared to its average volume of 3,161,472. The company has a market cap of $101.81 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.63 and a beta of 1.42. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50 day moving average price is $355.30 and its 200-day moving average price is $346.35. The Goldman Sachs Group, Inc. has a 52 week low of $277.84 and a 52 week high of $389.58.

The Goldman Sachs Group (NYSE:GS – Get Rating) last announced its earnings results on Tuesday, January 17th. The investment management company reported $3.32 EPS for the quarter, missing analysts’ consensus estimates of $5.25 by ($1.93). The firm had revenue of $10.59 billion during the quarter, compared to the consensus estimate of $10.91 billion. The Goldman Sachs Group had a return on equity of 10.55% and a net margin of 16.39%. The business’s revenue for the quarter was down 16.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.81 earnings per share. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 33.14 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Thursday, March 2nd will be issued a $2.50 dividend. The ex-dividend date is Wednesday, March 1st. This represents a $10.00 dividend on an annualized basis and a yield of 3.29%. The Goldman Sachs Group’s dividend payout ratio is presently 33.27%.

About The Goldman Sachs Group

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The Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, helping companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.