Eastern Bank Reduces Stock Holdings in The Goldman Sachs Group, Inc. (NYSE:GS)

Eastern Bank decreased its holdings in The Goldman Sachs Group, Inc. (NYSE:GSGet Rating) by 30.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,068 shares of the investment management company’s stock after selling 916 shares during the quarter. Eastern Bank’s holdings in The Goldman Sachs Group were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in GS. Joseph P. Lucia & Associates LLC purchased a new stake in The Goldman Sachs Group in the first quarter worth $26,000. Blue Bell Private Wealth Management LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth $34,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in The Goldman Sachs Group during the fourth quarter valued at $35,000. Rise Advisors LLC purchased a new position in The Goldman Sachs Group during the fourth quarter valued at $38,000. Finally, Addison Advisors LLC lifted its position in The Goldman Sachs Group by 2,475.0% during the fourth quarter. Addison Advisors LLC now owns 103 shares of the investment management company’s stock valued at $39,000 after buying an additional 99 shares during the period. 71.42% of the stock is owned by institutional investors.

In other The Goldman Sachs Group news, Director Goldman Sachs Group Inc sold 451,401 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $20.48, for a total transaction of $9,244,692.48. Following the completion of the sale, the director now directly owns 1,996,137 shares in the company, valued at approximately $40,880,885.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David M. Solomon sold 9,768 shares of the business’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $334.57, for a total value of $3,268,079.76. Following the sale, the chief executive officer now owns 96,467 shares of the company’s stock, valued at $32,274,964.19. The disclosure for this sale can be found here. Insiders sold a total of 1,330,390 shares of company stock valued at $28,952,332 over the last quarter. 0.57% of the stock is owned by corporate insiders.

NYSE GS opened at $299.23 on Friday. The Goldman Sachs Group, Inc. has a one year low of $278.15 and a one year high of $426.16. The stock has a 50-day moving average of $306.63 and a 200 day moving average of $336.84. The company has a market capitalization of $102.77 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 0.63 and a beta of 1.40. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.88 and a current ratio of 0.88.

The Goldman Sachs Group (NYSE:GSGet Rating) last released its quarterly earnings data on Thursday, April 14th. The investment management company reported $10.76 EPS for the quarter, topping the consensus estimate of $8.61 by $2.15. The Goldman Sachs Group had a return on equity of 19.08% and a net margin of 31.21%. The company had revenue of $12.93 billion during the quarter, compared to the consensus estimate of $11.76 billion. During the same period last year, the company earned $18.60 EPS. The Goldman Sachs Group’s revenue for the quarter was down 26.9% on a year-over-year basis. On average, equities analysts predict that The Goldman Sachs Group, Inc. will post 37.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Wednesday, June 1st were issued a $2.00 dividend. The ex-dividend date was Tuesday, May 31st. This represents a $8.00 annualized dividend and a yield of 2.67%. The Goldman Sachs Group’s payout ratio is 15.53%.

Several equities analysts have commented on GS shares. StockNews.com started coverage on The Goldman Sachs Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. Bank of America raised The Goldman Sachs Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $360.00 to $380.00 in a research report on Wednesday. Wells Fargo & Company lowered their price objective on The Goldman Sachs Group from $420.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday. Oppenheimer lowered their price objective on The Goldman Sachs Group from $546.00 to $519.00 and set an “overweight” rating for the company in a research report on Tuesday, May 3rd. Finally, Royal Bank of Canada reduced their price target on The Goldman Sachs Group from $390.00 to $370.00 and set a “sector perform” rating for the company in a report on Friday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $431.73.

The Goldman Sachs Group Profile (Get Rating)

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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.

Read More

Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GSGet Rating).

Institutional Ownership by Quarter for The Goldman Sachs Group (NYSE:GS)

Receive News & Ratings for The Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.