Granite Harbor Advisors Inc. Raises Position in The Goldman Sachs Group, Inc. $GS

Granite Harbor Advisors Inc. raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 8.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 411 shares of the investment management company’s stock after acquiring an additional 32 shares during the quarter. Granite Harbor Advisors Inc.’s holdings in The Goldman Sachs Group were worth $291,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Freedom Investment Management Inc. lifted its position in shares of The Goldman Sachs Group by 4.6% during the 2nd quarter. Freedom Investment Management Inc. now owns 547 shares of the investment management company’s stock worth $387,000 after purchasing an additional 24 shares during the last quarter. Ethic Inc. increased its stake in The Goldman Sachs Group by 5.1% in the second quarter. Ethic Inc. now owns 48,156 shares of the investment management company’s stock valued at $33,267,000 after purchasing an additional 2,344 shares during the period. Meadow Creek Wealth Advisors LLC increased its stake in The Goldman Sachs Group by 6.0% in the second quarter. Meadow Creek Wealth Advisors LLC now owns 632 shares of the investment management company’s stock valued at $447,000 after purchasing an additional 36 shares during the period. Rehmann Capital Advisory Group increased its stake in The Goldman Sachs Group by 13.2% in the second quarter. Rehmann Capital Advisory Group now owns 3,171 shares of the investment management company’s stock valued at $2,244,000 after purchasing an additional 369 shares during the period. Finally, TFB Advisors LLC increased its stake in The Goldman Sachs Group by 2.0% in the second quarter. TFB Advisors LLC now owns 826 shares of the investment management company’s stock valued at $585,000 after purchasing an additional 16 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the transaction, the chief operating officer owned 115,268 shares of the company’s stock, valued at approximately $86,463,679.48. This trade represents a 7.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the firm’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 in the company, valued at approximately $13,469,493.60. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,707 shares of company stock valued at $19,094,804 over the last 90 days. Insiders own 0.55% of the company’s stock.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $744.18 on Thursday. The Goldman Sachs Group, Inc. has a 52-week low of $439.38 and a 52-week high of $825.25. The firm has a fifty day moving average of $766.42 and a 200-day moving average of $674.65. The firm has a market capitalization of $225.28 billion, a P/E ratio of 15.12, a PEG ratio of 1.39 and a beta of 1.42. The company has a quick ratio of 0.67, a current ratio of 1.11 and a debt-to-equity ratio of 2.23.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 14th. The investment management company reported $12.25 earnings per share for the quarter, beating the consensus estimate of $10.27 by $1.98. The business had revenue of $11.33 billion during the quarter, compared to the consensus estimate of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.40 earnings per share. As a group, analysts predict that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be paid a $4.00 dividend. The ex-dividend date is Tuesday, December 2nd. This represents a $16.00 annualized dividend and a dividend yield of 2.2%. The Goldman Sachs Group’s dividend payout ratio is 32.50%.

Wall Street Analysts Forecast Growth

GS has been the topic of a number of recent research reports. Morgan Stanley dropped their price objective on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 15th. Wall Street Zen raised shares of The Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Wells Fargo & Company upped their price target on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Zacks Research lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Finally, Royal Bank Of Canada reaffirmed a “neutral” rating and set a $843.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $779.50.

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.