Eaton Financial Holdings Company LLC purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 428 shares of the investment management company's stock, valued at approximately $303,000.
Several other hedge funds have also added to or reduced their stakes in GS. Canada Pension Plan Investment Board boosted its stake in The Goldman Sachs Group by 28.6% in the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company's stock valued at $286,418,000 after acquiring an additional 116,535 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $321,000. Blueshift Asset Management LLC raised its position in shares of The Goldman Sachs Group by 161.8% during the 1st quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company's stock valued at $576,000 after acquiring an additional 652 shares during the last quarter. Adams Diversified Equity Fund Inc. lifted its stake in shares of The Goldman Sachs Group by 41.5% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 49,800 shares of the investment management company's stock valued at $27,205,000 after purchasing an additional 14,600 shares during the period. Finally, Terra Nova Asset Management LLC bought a new position in shares of The Goldman Sachs Group in the 1st quarter worth $1,643,000. Institutional investors own 71.21% of the company's stock.
The Goldman Sachs Group Price Performance
NYSE GS opened at $805.20 on Tuesday. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $243.75 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.68 and a beta of 1.41. The business has a 50 day simple moving average of $739.87 and a 200 day simple moving average of $640.52. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $809.66.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share 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 firm had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the firm posted $8.62 earnings per share. The business's revenue was up 14.5% on a year-over-year basis. Analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $3.00. The ex-dividend date is Friday, August 29th. This represents a $16.00 dividend on an annualized basis and a yield of 2.0%. The Goldman Sachs Group's dividend payout ratio is currently 35.26%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their price objective on The Goldman Sachs Group from $785.00 to $855.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Citigroup boosted their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Hsbc Global Res downgraded shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus target price of $665.00.
Read Our Latest Analysis on The Goldman Sachs Group
Insider Transactions at The Goldman Sachs Group
In other news, EVP John F.W. Rogers sold 6,008 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 65,761 shares in the company, valued at $47,176,283.79. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John E. Waldron sold 9,000 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $750.51, for a total value of $6,754,590.00. Following the transaction, the chief operating officer owned 106,268 shares of the company's stock, valued at approximately $79,755,196.68. The trade was a 7.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,323 shares of company stock worth $28,111,828. Company insiders own 0.55% of the company's stock.
About The Goldman Sachs Group
(
Free Report)
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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