Peoples Financial Services CORP. Has $2.08 Million Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Peoples Financial Services CORP. reduced its holdings in The Goldman Sachs Group by 25.2% in Q2, now owning 2,939 shares valued at approximately $2.08 million, making it their 25th biggest holding.
• The Goldman Sachs Group reported a 14.5% increase in quarterly revenue year-over-year, achieving $14.58 billion, and earnings per share of $10.91, exceeding estimates by $1.09.
• The firm announced a new quarterly dividend of $4.00 per share, representing an increase from the previous $3.00 dividend, with a yield of 2.0%.

Peoples Financial Services CORP. decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 25.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,939 shares of the investment management company's stock after selling 992 shares during the quarter. The Goldman Sachs Group accounts for approximately 1.0% of Peoples Financial Services CORP.'s holdings, making the stock its 25th biggest holding. Peoples Financial Services CORP.'s holdings in The Goldman Sachs Group were worth $2,080,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Ridgewood Investments LLC raised its stake in shares of The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company's stock valued at $38,000 after buying an additional 17 shares in the last quarter. Bank of Stockton increased its position in shares of The Goldman Sachs Group by 0.7% during the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company's stock worth $1,759,000 after purchasing an additional 17 shares in the last quarter. Western Financial Corp CA increased its position in shares of The Goldman Sachs Group by 0.5% during the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company's stock worth $2,546,000 after purchasing an additional 17 shares in the last quarter. King Wealth Management Group increased its position in shares of The Goldman Sachs Group by 1.8% during the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after purchasing an additional 19 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC increased its position in shares of The Goldman Sachs Group by 0.9% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 2,020 shares of the investment management company's stock worth $1,104,000 after purchasing an additional 19 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Stock Up 1.0%

Shares of NYSE GS opened at $802.91 on Monday. The firm has a market capitalization of $243.06 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. 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 Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $825.25. The firm's 50-day moving average is $747.32 and its 200-day moving average is $648.04.

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 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm earned $8.62 EPS. The Goldman Sachs Group's quarterly revenue was up 14.5% compared to the same quarter last year. Equities analysts expect 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. Investors of record on Friday, August 29th will be paid a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is 35.26%.

Analyst Ratings Changes

A number of brokerages have commented on GS. JMP Securities reissued a "market perform" rating and set a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. Keefe, Bruyette & Woods increased their price objective on shares of The Goldman Sachs Group from $771.00 to $790.00 and gave the stock a "market perform" rating in a report on Thursday, July 17th. Zacks Research lowered shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Morgan Stanley increased their price objective on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $665.00.

Insider Activity

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares in the company, valued at $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock worth $28,111,828 over the last quarter. 0.55% of the stock is owned by insiders.

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.

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