The Goldman Sachs Group, Inc. $GS Shares Sold by Eastern Bank

Eastern Bank trimmed its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 50.2% during the second quarter, Holdings Channel reports. The fund owned 9,678 shares of the investment management company’s stock after selling 9,756 shares during the quarter. Eastern Bank’s holdings in The Goldman Sachs Group were worth $9,788,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Turim 21 Investimentos Ltda. purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of The Goldman Sachs Group during the fourth quarter worth approximately $26,000. Manning & Napier Advisors LLC increased its stake in shares of The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after buying an additional 23 shares during the last quarter. Steph & Co. acquired a new stake in The Goldman Sachs Group in the first quarter valued at $27,000. Finally, Lifetime Wealth Management P.C. acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GS shares. Jefferies Financial Group set a $1,299.00 price target on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. CICC Research increased their target price on The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Wall Street Zen upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Daiwa Securities Group boosted their price target on The Goldman Sachs Group from $891.00 to $930.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $1,062.86.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,027.61 on Tuesday. The Goldman Sachs Group, Inc. has a 12-month low of $705.55 and a 12-month high of $1,153.99. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The firm has a market capitalization of $303.16 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.03 and a beta of 1.30. The business has a 50 day simple moving average of $1,053.24 and a 200 day simple moving average of $955.30.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The firm had revenue of $20.34 billion for the quarter, compared to the consensus estimate of $16.22 billion. During the same quarter in the previous year, the business earned $10.91 EPS. The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 27.78%.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman’s latest quarterly results showed substantial earnings and revenue beats, reinforcing the strength of its trading, investment banking, and investment-management businesses. The results provide the clearest fundamental support for the stock’s recent performance.
• Positive Sentiment: Roger Altman said markets are continuing to absorb geopolitical tensions, energy shocks, and higher interest rates, suggesting resilient risk appetite that could support Goldman’s market-making and capital-markets operations. Top Wall Street Veteran: The Stock Market Is Shrugging Off Every Major Headwind
• Neutral Sentiment: Goldman launched autocallable notes tied to Meta Platforms stock, demonstrating continued structured-products activity. The announcement may modestly highlight the firm’s product capabilities but is not expected to materially change earnings by itself. Goldman Sachs Launches Autocallable Notes Tied to Meta Platforms Stock
• Neutral Sentiment: Goldman disclosed that its stake in Turkey’s Kardemir exceeded 5%, a regulatory ownership update rather than a direct change to the company’s operating outlook. Goldman Sachs Lifts Kardemir Stake Above 5% Threshold
• Neutral Sentiment: Goldman’s research points to a valuation pullback in Big Tech and a narrowing gap between technology stocks and the rest of the market. This could create rotation and trading opportunities, although it also signals greater uncertainty around equity valuations. The Gap Between Big Tech and the Rest of the Market Just Vanished
• Negative Sentiment: Chief Global Equity Strategist Peter Oppenheimer warned that, while there may not be a valuation bubble, there could be an “earnings bubble.” The caution raises concerns that slowing profit growth could eventually pressure market activity and investor sentiment. Wall Street’s Bulls Are Starting to Admit the Earnings Bubble Is Real

Insider Activity

In related news, CFO Denis P. Coleman sold 6,857 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the sale, the chief financial officer owned 31,070 shares of the company’s stock, valued at $30,248,198.50. This represents a 18.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the completion of the transaction, the insider owned 15,657 shares of the company’s stock, valued at $14,703,018.99. This represents a 47.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.