13,838 Shares in The Goldman Sachs Group, Inc. $GS Bought by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC purchased 13,838 shares of The Goldman Sachs Group, valued at approximately $9.8 million, as indicated in its recent 13F filing.
• Analysts have varied opinions on the stock, with Citigroup raising their target price to $700 while HSBC adjusted their rating to "moderate sell" and set a target of $627.
• The Goldman Sachs Group has increased its dividend to $4.00 per share, representing a yield of 2.0% and a notable increase from the previous $3.00 quarterly dividend.

Eagle Global Advisors LLC purchased a new position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,838 shares of the investment management company's stock, valued at approximately $9,794,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. NovaPoint Capital LLC increased its stake in The Goldman Sachs Group by 2.0% during the second quarter. NovaPoint Capital LLC now owns 10,991 shares of the investment management company's stock valued at $7,779,000 after purchasing an additional 217 shares during the last quarter. Cove Private Wealth LLC bought a new stake in The Goldman Sachs Group during the second quarter valued at $212,000. Patton Fund Management Inc. bought a new stake in The Goldman Sachs Group during the second quarter valued at $285,000. Kathmere Capital Management LLC increased its stake in The Goldman Sachs Group by 2.3% during the second quarter. Kathmere Capital Management LLC now owns 1,570 shares of the investment management company's stock valued at $1,111,000 after purchasing an additional 36 shares during the last quarter. Finally, True North Advisors LLC bought a new stake in The Goldman Sachs Group during the second quarter valued at $226,000. Institutional investors own 71.21% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Citigroup boosted their target price on shares of The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. HSBC reiterated a "reduce" rating and set a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Zacks Research downgraded shares of The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Royal Bank Of Canada reissued a "sector perform" rating on shares of The Goldman Sachs Group in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and an average target price of $665.00.

The Goldman Sachs Group Stock Performance

GS stock opened at $802.91 on Friday. The company has a 50-day simple moving average of $747.32 and a 200 day simple moving average of $646.41. The company has a market capitalization of $243.06 billion, a P/E ratio of 17.69, a PEG ratio of 1.65 and a beta of 1.41. 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 Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The Goldman Sachs Group's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.62 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors 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 dividend on an annualized basis and a yield of 2.0%. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's payout ratio is currently 35.26%.

Insider Activity at The Goldman Sachs Group

In related news, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total value of $5,406,197.20. Following the completion of the transaction, the chief financial officer owned 18,594 shares in the company, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total transaction of $4,706,944.48. Following the completion of the transaction, the chief executive officer owned 126,176 shares of the company's stock, valued at $89,876,426.56. This represents a 4.98% 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.

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.

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