Waycross Partners LLC Has $45.30 Million Stock Holdings in The Goldman Sachs Group, Inc. $GS

Key Points

• Waycross Partners LLC increased its stake in The Goldman Sachs Group, Inc. by 3.3%, now holding approximately $45.30 million worth of shares, making it its 7th biggest investment.
• The Goldman Sachs Group reported an Earnings Per Share (EPS) of $10.91 for the last quarter, surpassing analyst expectations of $9.82, with a revenue of $14.58 billion.
• The company announced an increase in its quarterly dividend from $3.00 to $4.00 per share, reflecting a 2.0% yield based on the annualized amount.

Waycross Partners LLC raised its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,011 shares of the investment management company's stock after purchasing an additional 2,069 shares during the quarter. The Goldman Sachs Group accounts for about 4.3% of Waycross Partners LLC's holdings, making the stock its 7th biggest holding. Waycross Partners LLC's holdings in The Goldman Sachs Group were worth $45,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group during the first quarter valued at approximately $25,000. American Capital Advisory LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter worth approximately $29,000. Godsey & Gibb Inc. lifted its holdings 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 acquiring an additional 34 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group in the 4th quarter worth approximately $31,000. Finally, Lowe Wealth Advisors LLC lifted its holdings 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 acquiring an additional 49 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Up 0.1%

NYSE:GS opened at $806.62 on Wednesday. The company has a fifty day moving average of $741.95 and a 200 day moving average of $641.68. The Goldman Sachs Group, Inc. has a 52 week low of $439.38 and a 52 week high of $825.25. 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 firm has a market capitalization of $244.18 billion, a P/E ratio of 17.77, 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 results on Wednesday, July 16th. The investment management company reported $10.91 EPS 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 company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the business posted $8.62 EPS. The firm's revenue was up 14.5% compared to the same quarter last year. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business 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 represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. 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%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GS. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Evercore ISI set a $715.00 price objective on shares of The Goldman Sachs Group and gave the stock an "outperform" rating in a report on Thursday, July 10th. 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. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. Finally, Citigroup boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $665.00.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the business's 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 transaction, the executive vice president directly owned 65,761 shares of the company's stock, 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 the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the business's stock in a transaction on 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock valued at $28,111,828 in the last 90 days. 0.55% of the stock is owned by company 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.

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