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

Granite Harbor Advisors Inc. increased its holdings in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 8.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411 shares of the investment management company’s stock after purchasing an additional 32 shares during the period. Granite Harbor Advisors Inc.’s holdings in The Goldman Sachs Group were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Dogwood Wealth Management LLC increased its holdings in The Goldman Sachs Group by 1,800.0% in the second quarter. Dogwood Wealth Management LLC now owns 38 shares of the investment management company’s stock valued at $26,000 after buying an additional 36 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $25,000. American Capital Advisory LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $29,000. Ridgewood Investments LLC increased its stake in shares of The Goldman Sachs Group by 45.9% in the 2nd quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 17 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in shares of The Goldman Sachs Group by 46.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $744.18 on Thursday. The firm has a 50 day simple moving average of $766.42 and a 200-day simple moving average of $674.65. The Goldman Sachs Group, Inc. has a 1-year low of $439.38 and a 1-year high of $825.25. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67. The stock has a market cap of $225.28 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly 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 Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The business had revenue of $11.33 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter in the prior year, the company posted $8.40 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts expect 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 declared 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 of this dividend 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%.

Insider Activity at The Goldman Sachs Group

In related news, COO John E. Waldron sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $750.51, for a total transaction of $6,754,590.00. Following the completion of the transaction, the chief operating officer owned 106,268 shares of the company’s stock, valued at approximately $79,755,196.68. This trade represents a 7.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was 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. The trade was a 28.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,707 shares of company stock valued at $19,094,804. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

GS has been the subject of a number of research reports. Royal Bank Of Canada reissued a “neutral” rating and set a $843.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, October 14th. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $752.00 to $830.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Keefe, Bruyette & Woods boosted their target price on shares of The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research note on Friday, October 17th. Citizens Jmp reissued a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of The Goldman Sachs Group from $725.00 to $790.00 and gave the stock a “hold” rating in a research note on Tuesday, September 30th. Three equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $779.50.

The Goldman Sachs Group Company 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.