Tompkins Financial Corp Sells 650 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Tompkins Financial Corp reduced its stake in The Goldman Sachs Group by 56.5%, holding 500 shares worth $354,000 after selling 650 shares in the second quarter.
• The Goldman Sachs Group reported $10.91 earnings per share for the last quarter, exceeding expectations, with revenue of $14.58 billion, showing a 14.5% increase from last year.
• The company is planning to pay a quarterly dividend of $4.00 per share, up from the previous $3.00, representing a 2.0% dividend yield.

Tompkins Financial Corp trimmed its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 56.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the investment management company's stock after selling 650 shares during the period. Tompkins Financial Corp's holdings in The Goldman Sachs Group were worth $354,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of The Goldman Sachs Group by 17.1% during the 4th quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company's stock worth $1,989,000 after purchasing an additional 508 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company's stock valued at $508,000 after purchasing an additional 58 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in The Goldman Sachs Group during the fourth quarter worth $583,000. Highview Capital Management LLC DE grew its position in The Goldman Sachs Group by 4.7% in the fourth quarter. Highview Capital Management LLC DE now owns 3,817 shares of the investment management company's stock valued at $2,186,000 after acquiring an additional 171 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of The Goldman Sachs Group by 4.5% in the fourth quarter. Two Sigma Investments LP now owns 6,513 shares of the investment management company's stock worth $3,729,000 after acquiring an additional 280 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Stock Performance

Shares of NYSE GS traded up $0.14 during midday trading on Friday, hitting $804.45. The company's stock had a trading volume of 3,788,014 shares, compared to its average volume of 1,604,564. The stock has a fifty day moving average price of $738.03 and a 200 day moving average price of $638.00. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $809.66. 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 firm has a market capitalization of $243.52 billion, a price-to-earnings ratio of 17.73, 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 earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the firm posted $8.62 EPS. The Goldman Sachs Group's revenue was up 14.5% on a year-over-year basis. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $4.00 per share. This is an increase from The Goldman Sachs Group's previous quarterly dividend of $3.00. This represents a $16.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group's payout ratio is 35.26%.

Insider Buying and Selling

In related news, CEO David M. Solomon sold 6,608 shares of the firm'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 transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at approximately $89,876,426.56. This trade represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the completion of 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. Over the last quarter, insiders have sold 38,323 shares of company stock worth $28,111,828. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen upgraded The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. HSBC reaffirmed 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 note on Tuesday, July 8th. JMP Securities reiterated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods boosted 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 research note on Thursday, July 17th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.