Eastern Bank Boosts Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Eastern Bank increased its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 14.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,464 shares of the investment management company’s stock after buying an additional 190 shares during the period. Eastern Bank’s holdings in The Goldman Sachs Group were worth $725,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in shares of The Goldman Sachs Group by 2.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 74,230 shares of the investment management company’s stock valued at $36,752,000 after acquiring an additional 1,705 shares during the period. U S Global Investors Inc. boosted its position in The Goldman Sachs Group by 10.0% during the third quarter. U S Global Investors Inc. now owns 2,970 shares of the investment management company’s stock worth $1,470,000 after purchasing an additional 270 shares in the last quarter. Krane Funds Advisors LLC grew its holdings in The Goldman Sachs Group by 1.7% in the third quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after purchasing an additional 20 shares during the period. Foundations Investment Advisors LLC increased its position in shares of The Goldman Sachs Group by 2.2% in the third quarter. Foundations Investment Advisors LLC now owns 1,804 shares of the investment management company’s stock valued at $893,000 after buying an additional 38 shares in the last quarter. Finally, Telos Capital Management Inc. raised its stake in shares of The Goldman Sachs Group by 0.6% during the 3rd quarter. Telos Capital Management Inc. now owns 16,245 shares of the investment management company’s stock worth $8,043,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $517.20 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.20. The company has a 50-day moving average price of $499.70 and a 200 day moving average price of $471.74. The Goldman Sachs Group, Inc. has a 12-month low of $289.36 and a 12-month high of $540.51. The stock has a market cap of $166.78 billion, a P/E ratio of 20.20, a PEG ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter last year, the firm earned $5.47 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Seaport Res Ptn cut The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Citigroup increased their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Finally, JMP Securities lifted their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Company 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.