Philadelphia Trust Co. Sells 4,736 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Philadelphia Trust Co. has reduced its holdings in The Goldman Sachs Group by 8.1%, making GS approximately 2.5% of its portfolio, valued at around $29.3 million.
• Recent insider trading activity includes sales by EVP John F.W. Rogers and CFO Denis P. Coleman, each decreasing their positions by 8.37% and 28.64% respectively.
• The Goldman Sachs Group plans to pay a quarterly dividend of $4.00 on September 29th, up from its previous dividend of $3.00, reflecting a yield of 2.2%.

Philadelphia Trust Co. cut its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 8.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,639 shares of the investment management company's stock after selling 4,736 shares during the period. The Goldman Sachs Group accounts for about 2.5% of Philadelphia Trust Co.'s portfolio, making the stock its 10th largest position. Philadelphia Trust Co.'s holdings in The Goldman Sachs Group were worth $29,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd acquired a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $25,000. American Capital Advisory LLC purchased a new position in The Goldman Sachs Group during the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. raised its position in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock worth $30,000 after buying an additional 34 shares during the last quarter. Transce3nd LLC purchased a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in The Goldman Sachs Group during the 4th quarter worth approximately $31,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock traded down $1.3930 during trading on Wednesday, reaching $719.9870. The company had a trading volume of 1,180,462 shares, compared to its average volume of 2,540,064. The firm's 50-day simple moving average is $699.27 and its 200 day simple moving average is $618.86. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $749.05. The firm has a market capitalization of $217.96 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.55 and a beta of 1.38. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) 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 company had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter in the previous year, the company posted $8.62 EPS. The firm's quarterly revenue was up 14.5% on a year-over-year basis. As a group, equities research analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. This is a boost 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 yield of 2.2%. The Goldman Sachs Group's dividend payout ratio is presently 35.26%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GS. Zacks Research raised shares of The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. 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. Citigroup raised their price target on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Finally, Evercore ISI set a $715.00 target price on shares of The Goldman Sachs Group and gave the company an "outperform" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $660.00.

Insiders Place Their Bets

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of The Goldman Sachs Group stock in a transaction 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 owned 65,761 shares of the company's stock, valued at $47,176,283.79. The trade was a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock valued at $14,423,221 in the last 90 days. 0.55% of the stock is owned by insiders.

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.