Procyon Advisors LLC Sells 321 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Procyon Advisors LLC reduced its stake in The Goldman Sachs Group, Inc. by 26.2% during the second quarter, now holding 905 shares valued at $640,000.
• The Goldman Sachs Group reported an earnings per share (EPS) of $10.91 for the last quarter, exceeding analysts' expectations by $1.09, with total revenue of $14.58 billion.
• The company declared a quarterly dividend of $4.00, up from the previous $3.00, reflecting an annual yield of 2.0%.

Procyon Advisors LLC trimmed its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 26.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 905 shares of the investment management company's stock after selling 321 shares during the period. Procyon Advisors LLC's holdings in The Goldman Sachs Group were worth $640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of GS. Clal Insurance Enterprises Holdings Ltd purchased a new stake in The Goldman Sachs Group during the 1st quarter valued at about $25,000. American Capital Advisory LLC acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $29,000. Godsey & Gibb Inc. raised its stake 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 valued at $30,000 after acquiring an additional 34 shares during the period. Mascagni Wealth Management Inc. acquired a new position in The Goldman Sachs Group during the fourth quarter worth $31,000. Finally, Lowe Wealth Advisors LLC grew its position in 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 valued at $35,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company's stock.

The Goldman Sachs Group Price Performance

Shares of GS traded up $0.14 during mid-day trading on Friday, reaching $804.45. 3,788,014 shares of the company's stock were exchanged, compared to its average volume of 1,604,564. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $809.66. The company has a market cap of $243.52 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.68 and a beta of 1.41. The company has a 50-day simple moving average of $738.03 and a two-hundred day simple moving average of $638.00. 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 (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, beating 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 business had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business posted $8.62 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $4.00 dividend. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date of this dividend is Friday, August 29th. This represents a $16.00 annualized dividend and a dividend yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is 35.26%.

Insider Transactions at The Goldman Sachs Group

In other news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the completion of the sale, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David M. Solomon sold 6,608 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer directly owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,323 shares of company stock valued at $28,111,828. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GS shares. JMP Securities restated a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a report on Monday, July 14th. 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. Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Keefe, Bruyette & Woods upped their price target on shares of 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. Finally, HSBC reaffirmed a "reduce" rating and issued a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $665.00.

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.