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

Triangle Securities Wealth Management lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) by 2.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,560 shares of the investment management company’s stock after selling 173 shares during the period. The Goldman Sachs Group accounts for approximately 1.1% of Triangle Securities Wealth Management’s portfolio, making the stock its 24th biggest position. Triangle Securities Wealth Management’s holdings in The Goldman Sachs Group were worth $2,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Accurate Wealth Management LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. Centerpoint Advisors LLC acquired a new position in The Goldman Sachs Group in the third quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its holdings in The Goldman Sachs Group by 109.3% in the fourth quarter. Sound Income Strategies LLC now owns 90 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 47 shares during the period. Transamerica Financial Advisors Inc. lifted its holdings in The Goldman Sachs Group by 727.3% in the third quarter. Transamerica Financial Advisors Inc. now owns 91 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 80 shares during the period. Finally, NewSquare Capital LLC acquired a new position in The Goldman Sachs Group in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GS. Morgan Stanley decreased their price target on The Goldman Sachs Group from $356.00 to $332.00 and set an “equal weight” rating for the company in a report on Wednesday, January 18th. StockNews.com began coverage on The Goldman Sachs Group in a report on Thursday. They issued a “hold” rating for the company. Credit Suisse Group set a $410.00 price target on The Goldman Sachs Group in a report on Wednesday, January 25th. Odeon Capital Group raised The Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $370.14 target price for the company in a research note on Tuesday, January 10th. Finally, BMO Capital Markets reduced their target price on The Goldman Sachs Group from $485.00 to $443.00 and set an “outperform” rating for the company in a research note on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and a consensus price target of $399.24.

The Goldman Sachs Group Price Performance

NYSE GS traded down $11.55 during mid-day trading on Friday, hitting $303.54. The stock had a trading volume of 6,369,764 shares, compared to its average volume of 3,161,472. The firm’s 50 day moving average is $355.30 and its 200 day moving average is $346.35. The Goldman Sachs Group, Inc. has a twelve month low of $277.84 and a twelve month high of $389.58. 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 stock has a market capitalization 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 Goldman Sachs Group (NYSE:GS – Get Rating) last posted its quarterly earnings data on Tuesday, January 17th. The investment management company reported $3.32 EPS for the quarter, missing the consensus estimate of $5.25 by ($1.93). The firm had revenue of $10.59 billion during the quarter, compared to analyst estimates of $10.91 billion. The Goldman Sachs Group had a net margin of 16.39% and a return on equity of 10.55%. The firm’s revenue for the quarter was down 16.2% compared to the same quarter last year. During the same period in the prior year, the company posted $10.81 earnings per share. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 33.14 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business 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. This represents a $10.00 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Wednesday, March 1st. The Goldman Sachs Group’s payout ratio is currently 33.27%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 3,749 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $10.58, for a total value of $39,664.42. 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 owned by company insiders.

The Goldman Sachs Group Company Profile

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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.