Perigon Wealth Management LLC Sells 584 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Perigon Wealth Management LLC reduced its stake in The Goldman Sachs Group by 5.9%, selling 584 shares during the second quarter, which left them with a total of 9,244 shares worth approximately $6.54 million.
• The Goldman Sachs Group reported $10.91 EPS for the last quarter, surpassing estimates by $1.09, with quarterly revenue rising by 14.5% year-over-year to $14.58 billion.
• The company has increased its quarterly dividend to $4.00 per share, resulting in a 2% annualized yield, up from the previous dividend of $3.00 per share.

Perigon Wealth Management LLC lessened its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,244 shares of the investment management company's stock after selling 584 shares during the quarter. Perigon Wealth Management LLC's holdings in The Goldman Sachs Group were worth $6,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $25,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group in the 1st quarter worth $29,000. Godsey & Gibb Inc. boosted its position in shares of The Goldman Sachs Group by 170.0% in the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter worth $31,000. Finally, Lowe Wealth Advisors LLC boosted its position in shares of The Goldman Sachs Group by 326.7% in the 1st quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company's stock worth $35,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $793.50 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.57. The Goldman Sachs Group, Inc. has a twelve month low of $439.38 and a twelve month high of $825.25. The business has a 50-day moving average price of $743.66 and a 200 day moving average price of $642.72. The firm has a market cap of $240.21 billion, a PE ratio of 17.49, a P/E/G ratio of 1.68 and a beta of 1.41.

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

The Goldman Sachs Group Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is presently 35.26%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Zacks Research cut The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 16th. HSBC reissued a "reduce" rating and issued a $627.00 price objective (up previously from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wells Fargo & Company lifted their price target on The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Finally, JMP Securities reaffirmed 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. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock 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.

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