The Goldman Sachs Group, Inc. (NYSE:GS) Stake Raised by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 9.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,379 shares of the investment management company’s stock after acquiring an additional 200 shares during the period. Tritonpoint Wealth LLC’s holdings in The Goldman Sachs Group were worth $1,300,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pointe Capital Management LLC raised its holdings in The Goldman Sachs Group by 1.0% during the fourth quarter. Pointe Capital Management LLC now owns 1,660 shares of the investment management company’s stock worth $951,000 after acquiring an additional 16 shares in the last quarter. Blackston Financial Advisory Group LLC raised its stake in The Goldman Sachs Group by 2.1% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 831 shares of the investment management company’s stock valued at $476,000 after buying an additional 17 shares during the period. Delta Financial Advisors LLC raised its stake in The Goldman Sachs Group by 0.3% in the fourth quarter. Delta Financial Advisors LLC now owns 6,861 shares of the investment management company’s stock valued at $3,929,000 after buying an additional 18 shares during the period. Prestige Wealth Management Group LLC raised its stake in The Goldman Sachs Group by 1.1% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,659 shares of the investment management company’s stock valued at $950,000 after buying an additional 18 shares during the period. Finally, Wynn Capital LLC raised its stake in The Goldman Sachs Group by 0.3% in the first quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company’s stock valued at $3,211,000 after buying an additional 20 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on GS shares. Keefe, Bruyette & Woods lowered The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $690.00 to $660.00 in a research note on Thursday, February 27th. Daiwa America lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Wall Street Zen lowered The Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Saturday. JMP Securities dropped their price objective on The Goldman Sachs Group from $625.00 to $600.00 and set a “market outperform” rating on the stock in a research note on Tuesday, April 8th. Finally, Daiwa Capital Markets lowered The Goldman Sachs Group from an “outperform” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $593.40.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director John B. Hess bought 3,904 shares of The Goldman Sachs Group stock in a transaction on Tuesday, April 15th. The shares were purchased at an average price of $511.68 per share, with a total value of $1,997,598.72. Following the acquisition, the director now owns 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $613.07 on Friday. The stock’s fifty day moving average price is $568.13 and its two-hundred day moving average price is $583.37. The Goldman Sachs Group, Inc. has a one year low of $437.37 and a one year high of $672.19. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $188.12 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 EPS for the quarter, topping analysts’ consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $15.06 billion for the quarter, compared to analyst estimates of $14.99 billion. During the same quarter last year, the company earned $11.58 EPS. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $12.00 dividend on an annualized basis and a yield of 1.96%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 27.85%.

About The Goldman Sachs Group

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.