Eastern Bank Has $835,000 Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Eastern Bank grew its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,529 shares of the investment management company’s stock after buying an additional 65 shares during the period. Eastern Bank’s holdings in The Goldman Sachs Group were worth $835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. American Capital Advisory LLC bought a new stake in The Goldman Sachs Group during the first quarter worth $29,000. Godsey & Gibb Inc. grew its position in shares of The Goldman Sachs Group by 170.0% in the first quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Transce3nd LLC purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $31,000. Mascagni Wealth Management Inc. purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC grew its position in shares of The Goldman Sachs Group by 326.7% in the first quarter. Lowe Wealth Advisors LLC now owns 64 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

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 stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total value of $4,310,079.12. Following the completion of the transaction, the executive vice president owned 65,761 shares in the company, valued at approximately $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The transaction 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 stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $712.31, for a total value of $4,706,944.48. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,079 shares of company stock worth $14,423,221 over the last quarter. 0.55% of the stock is owned by corporate insiders.

The Goldman Sachs Group Trading Down 0.1%

Shares of GS opened at $731.19 on Thursday. The business has a 50-day moving average of $665.10 and a 200 day moving average of $608.80. The Goldman Sachs Group, Inc. has a fifty-two week low of $437.37 and a fifty-two week high of $737.88. The firm has a market cap of $224.36 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.55 and a beta of 1.35. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09. The company had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The Goldman Sachs Group’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.62 earnings per share. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 EPS 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 $4.00 dividend. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.19%. 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 26.44%.

Wall Street Analyst Weigh In

Several research firms recently commented on GS. HSBC restated a “reduce” rating and set a $627.00 target price (up from $558.00) on shares of The Goldman Sachs Group in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Hsbc Global Res lowered The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Evercore ISI set a $715.00 target price on The Goldman Sachs Group and gave the company an “outperform” rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus target price of $660.00.

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.