The Goldman Sachs Group, Inc. $GS Stock Position Raised by Griffin Asset Management Inc.

Griffin Asset Management Inc. boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,417 shares of the investment management company’s stock after purchasing an additional 550 shares during the period. The Goldman Sachs Group accounts for 1.7% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Griffin Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $14,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GS. Winthrop Advisory Group LLC boosted its stake in shares of The Goldman Sachs Group by 3.4% during the 2nd quarter. Winthrop Advisory Group LLC now owns 429 shares of the investment management company’s stock valued at $303,000 after buying an additional 14 shares during the period. Mechanics Financial Corp boosted its stake in shares of The Goldman Sachs Group by 5.8% during the 2nd quarter. Mechanics Financial Corp now owns 294 shares of the investment management company’s stock valued at $208,000 after buying an additional 16 shares during the period. Ridgewood Investments LLC boosted its stake in shares of The Goldman Sachs Group by 45.9% during the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after buying an additional 17 shares during the period. Bank of Stockton boosted its stake in shares of The Goldman Sachs Group by 0.7% during the 2nd quarter. Bank of Stockton now owns 2,485 shares of the investment management company’s stock valued at $1,759,000 after buying an additional 17 shares during the period. Finally, Western Financial Corp CA lifted its stake in shares of The Goldman Sachs Group by 0.5% in the 2nd quarter. Western Financial Corp CA now owns 3,597 shares of the investment management company’s stock valued at $2,546,000 after purchasing an additional 17 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GS has been the subject of several analyst reports. 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. Citigroup lifted their price objective 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. BMO Capital Markets initiated coverage on shares of The Goldman Sachs Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $785.00 price objective for the company. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley lifted their price objective on shares of The Goldman Sachs Group from $706.00 to $854.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Five investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $746.69.

The Goldman Sachs Group Stock Down 1.9%

The Goldman Sachs Group stock opened at $765.14 on Monday. The firm has a market cap of $231.62 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.44 and a beta of 1.42. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $825.25. The firm has a fifty day moving average price of $760.79 and a two-hundred day moving average price of $663.66.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, July 16th. The investment management company reported $10.91 earnings per share for the quarter, topping 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 business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.62 EPS. As a group, analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

Insider Activity at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,608 shares of the company’s 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 approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Denis P. Coleman sold 7,463 shares of the company’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $724.40, for a total transaction of $5,406,197.20. Following the transaction, the chief financial officer directly owned 18,594 shares of the company’s stock, valued at $13,469,493.60. This represents a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,323 shares of company stock worth $28,111,828 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

About The Goldman Sachs Group

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.