WealthBridge Investment Counsel Inc. Cuts Stock Position in The Goldman Sachs Group, Inc. $GS

WealthBridge Investment Counsel Inc. decreased its position in The Goldman Sachs Group, Inc. (NYSE:GSFree Report) by 3.4% during the 4th quarter, Holdings Channel reports. The firm owned 21,192 shares of the investment management company’s stock after selling 736 shares during the period. The Goldman Sachs Group comprises about 5.6% of WealthBridge Investment Counsel Inc.’s holdings, making the stock its 3rd biggest holding. WealthBridge Investment Counsel Inc.’s holdings in The Goldman Sachs Group were worth $18,628,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in GS. Dagco Inc. bought a new position in The Goldman Sachs Group in the 4th quarter worth $25,000. Harbor Capital Advisors Inc. bought a new position in The Goldman Sachs Group in the 3rd quarter worth $26,000. First PREMIER Bank bought a new position in The Goldman Sachs Group in the 3rd quarter worth $28,000. Corundum Trust Company INC bought a new position in The Goldman Sachs Group in the 3rd quarter worth $29,000. Finally, Elevation Wealth Partners LLC raised its holdings in The Goldman Sachs Group by 100.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 40 shares of the investment management company’s stock worth $32,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $906.27 on Thursday. The Goldman Sachs Group, Inc. has a 12 month low of $447.11 and a 12 month high of $984.70. The stock has a market cap of $267.34 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.60. The company’s fifty day moving average price is $871.68 and its 200-day moving average price is $852.68.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its earnings results on Thursday, January 15th. The investment management company reported $13.55 EPS for the quarter, beating analysts’ consensus estimates of $11.52 by $2.03. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.72%. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter in the previous year, the business posted $11.95 EPS. The company’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 2nd were issued a dividend of $4.50 per share. This is a boost from The Goldman Sachs Group’s previous quarterly dividend of $4.00. The ex-dividend date was Monday, March 2nd. This represents a $18.00 dividend on an annualized basis and a dividend yield of 2.0%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.09%.

Analysts Set New Price Targets

Several brokerages have commented on GS. Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a report on Monday, December 22nd. Autonomous Res decreased their price objective on shares of The Goldman Sachs Group from $1,047.00 to $960.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. BNP Paribas Exane upped their price objective on shares of The Goldman Sachs Group from $775.00 to $970.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Jefferies Financial Group decreased their price objective on shares of The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a report on Monday. Finally, Morgan Stanley decreased their price objective on shares of The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average target price of $924.24.

Read Our Latest Stock Analysis on GS

Insider Activity

In other news, EVP John F.W. Rogers sold 13,151 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $959.03, for a total value of $12,612,203.53. Following the completion of the transaction, the executive vice president owned 39,007 shares of the company’s stock, valued at $37,408,883.21. The trade was a 25.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David M. Solomon sold 272 shares of The Goldman Sachs Group stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $938.92, for a total value of $255,386.24. Following the completion of the transaction, the chief executive officer directly owned 125,527 shares of the company’s stock, valued at approximately $117,859,810.84. This represents a 0.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 117,283 shares of company stock worth $112,016,033. 0.55% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Company Profile

(Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

Featured Stories

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Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

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