Griffin Asset Management Inc. Has $14.45 Million Stock Holdings in The Goldman Sachs Group, Inc. $GS

Griffin Asset Management Inc. increased its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,417 shares of the investment management company’s stock after buying an additional 550 shares during the quarter. The Goldman Sachs Group comprises approximately 1.7% of Griffin Asset Management Inc.’s portfolio, making the stock its 15th largest holding. Griffin Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $14,450,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GS. Clal Insurance Enterprises Holdings Ltd acquired a new position in The Goldman Sachs Group in the first quarter worth about $25,000. Dogwood Wealth Management LLC raised its position 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 worth $26,000 after purchasing an additional 36 shares in the last quarter. American Capital Advisory LLC acquired a new position in The Goldman Sachs Group in the first quarter worth about $29,000. Cornerstone Planning Group LLC raised its position in The Goldman Sachs Group by 46.9% in the first quarter. Cornerstone Planning Group LLC now owns 72 shares of the investment management company’s stock worth $38,000 after purchasing an additional 23 shares in the last quarter. Finally, Ridgewood Investments LLC raised its position in The Goldman Sachs Group by 45.9% in the second quarter. Ridgewood Investments LLC now owns 54 shares of the investment management company’s stock worth $38,000 after purchasing an additional 17 shares in 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 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 sale, the chief operating officer directly owned 106,268 shares of the company’s stock, valued at $79,755,196.68. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Denis P. Coleman sold 7,463 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 18,594 shares in the company, valued at $13,469,493.60. This trade represents a 28.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,323 shares of company stock valued at $28,111,828 over the last three months. 0.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. 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. Evercore ISI upped their price objective 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. Citizens Jmp reaffirmed a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Daiwa Capital Markets upped their price objective on shares of The Goldman Sachs Group from $756.00 to $810.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of The Goldman Sachs Group from $790.00 to $850.00 and gave the stock a “market perform” rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $746.69.

The Goldman Sachs Group Price Performance

GS opened at $765.14 on Monday. The Goldman Sachs Group, Inc. has a one year low of $439.38 and a one year high of $825.25. 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 company’s 50 day simple moving average is $760.79 and its 200-day simple moving average is $663.66. The stock has a market capitalization of $231.62 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, beating the consensus estimate of $9.82 by $1.09. The Goldman Sachs Group had a net margin of 12.37% and a return on equity of 14.32%. The business had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the firm earned $8.62 earnings per share. The Goldman Sachs Group’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

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.