Triangle Securities Wealth Management Has $9.54 Million Position in The Goldman Sachs Group, Inc. $GS

Key Points

• Triangle Securities Wealth Management increased its holdings in The Goldman Sachs Group by 90.4%, acquiring an additional 6,401 shares, bringing its total to 13,478 shares, worth approximately $9.54 million.
• Insider transactions from COO John E. Waldron and EVP John F.W. Rogers revealed sales of 9,244 and 6,008 shares, respectively, indicating a decrease in their stock positions by 7.42% and 8.37%.
• The Goldman Sachs Group announced a quarterly dividend of $4.00 per share, up from the previous $3.00, which reflects a 2.0% dividend yield based on the annualized payout.

Triangle Securities Wealth Management grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 90.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,478 shares of the investment management company's stock after purchasing an additional 6,401 shares during the period. The Goldman Sachs Group makes up approximately 2.3% of Triangle Securities Wealth Management's portfolio, making the stock its 6th biggest holding. Triangle Securities Wealth Management's holdings in The Goldman Sachs Group were worth $9,539,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of The Goldman Sachs Group by 63,864.7% during the first quarter. GAMMA Investing LLC now owns 3,976,684 shares of the investment management company's stock worth $2,172,423,000 after acquiring an additional 3,970,467 shares during the period. International Assets Investment Management LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $1,766,238,000. Nuveen LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth approximately $897,185,000. Assenagon Asset Management S.A. increased its position in The Goldman Sachs Group by 102.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,764 shares of the investment management company's stock worth $8,065,000 after purchasing an additional 585,084 shares during the period. Finally, Cohen Investment Advisors LLC grew its stake in shares of The Goldman Sachs Group by 5,559.2% during the 1st quarter. Cohen Investment Advisors LLC now owns 470,220 shares of the investment management company's stock worth $256,876,000 after purchasing an additional 461,911 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Goldman Sachs Group

In related news, CEO David M. Solomon sold 6,608 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, the chief executive officer directly owned 126,176 shares in the company, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John E. Waldron sold 9,000 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the sale, the chief operating officer directly owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,323 shares of company stock worth $28,111,828. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS traded up $0.14 during midday trading on Friday, reaching $804.45. The stock had a trading volume of 3,788,014 shares, compared to its average volume of 1,604,564. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $809.66. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. The firm has a market cap of $243.52 billion, a PE ratio of 17.73, a P/E/G ratio of 1.68 and a beta of 1.41. The firm has a 50 day simple moving average of $738.03 and a 200-day simple moving average of $638.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. During the same period in the previous year, the business posted $8.62 earnings per share. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GS shares. Wells Fargo & Company upped their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a report on Tuesday. JMP Securities reissued a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $771.00 to $790.00 and gave the company a "market perform" rating in a research report on Thursday, July 17th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Hsbc Global Res cut The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $665.00.

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 financing under securities to resale agreements.