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

Key Points

• Eastern Bank cut its Goldman Sachs stake by 50.2% in the second quarter, selling 9,756 shares and retaining 9,678 shares valued at approximately $9.8 million. Institutional investors and hedge funds still own 71.21% of the company.
• Goldman Sachs reported a strong quarter, with earnings per share of $20.98 and revenue of $20.34 billion, exceeding estimates and representing 39.4% year-over-year revenue growth.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $1,062.86. Goldman also raised its quarterly dividend to $5.00 per share, implying a 1.9% annual yield.

Eastern Bank lessened its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 50.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. BSN CAPITAL PARTNERS Ltd acquired a new position in The Goldman Sachs Group in the first quarter valued at $136,579,000. Sapient Capital LLC increased its stake in shares of The Goldman Sachs Group by 294.2% during the 1st quarter. Sapient Capital LLC now owns 1,096 shares of the investment management company's stock valued at $927,000 after acquiring an additional 818 shares during the last quarter. PVG Asset Management Corp lifted its holdings in shares of The Goldman Sachs Group by 43.2% during the 1st quarter. PVG Asset Management Corp now owns 401 shares of the investment management company's stock worth $339,000 after acquiring an additional 121 shares during the period. LFG Wealth Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 2.8% during the 1st quarter. LFG Wealth Partners LLC now owns 1,883 shares of the investment management company's stock worth $1,593,000 after acquiring an additional 51 shares during the period. Finally, FAS Wealth Partners Inc. boosted its position in shares of The Goldman Sachs Group by 2.9% in the first quarter. FAS Wealth Partners Inc. now owns 611 shares of the investment management company's stock worth $517,000 after acquiring an additional 17 shares during 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, CFO Denis P. Coleman sold 6,857 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the transaction, the chief financial officer owned 31,070 shares in the company, valued at $30,248,198.50. This represents a 18.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 15,657 shares of the company's stock, valued at $14,703,018.99. This trade represents a 47.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

GS has been the subject of a number of recent analyst reports. Oppenheimer downgraded shares of The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a report on Tuesday, June 30th. Weiss Ratings downgraded shares of The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods lifted their price target on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a "market perform" rating in a report on Wednesday, July 15th. Wall Street Zen raised shares of The Goldman Sachs Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Finally, UBS Group upped their price objective on The Goldman Sachs Group from $1,120.00 to $1,150.00 and gave the stock a "neutral" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $1,062.86.

The Goldman Sachs Group Trading Up 0.9%

NYSE:GS opened at $1,027.61 on Tuesday. The business's 50-day moving average is $1,053.24 and its two-hundred day moving average is $955.30. 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 Goldman Sachs Group, Inc. has a 12 month low of $705.55 and a 12 month high of $1,153.99. The firm has a market capitalization of $303.16 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.03 and a beta of 1.30.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $20.34 billion for the quarter, compared to analysts' expectations of $16.22 billion. During the same quarter in the previous year, the firm posted $10.91 earnings per share. The firm's quarterly revenue was up 39.4% on a year-over-year basis. Research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 1st will be given a dividend of $5.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 annualized dividend and a yield of 1.9%. The Goldman Sachs Group's dividend payout ratio is presently 27.78%.

Key Stories Impacting The Goldman Sachs Group

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

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.

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