Griffin Asset Management Inc. Reduces Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Griffin Asset Management Inc. trimmed its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,966 shares of the investment management company’s stock after selling 923 shares during the quarter. The Goldman Sachs Group makes up 1.2% of Griffin Asset Management Inc.’s portfolio, making the stock its 25th biggest holding. Griffin Asset Management Inc.’s holdings in The Goldman Sachs Group were worth $10,380,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Semmax Financial Advisors Inc. acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $26,000. POM Investment Strategies LLC purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in The Goldman Sachs Group in the 2nd quarter worth approximately $27,000. SJS Investment Consulting Inc. raised its holdings in The Goldman Sachs Group by 103.3% in the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of The Goldman Sachs Group by 6,300.0% during the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group Stock Down 0.0 %

NYSE:GS opened at $522.60 on Wednesday. The stock has a 50-day simple moving average of $495.39 and a 200 day simple moving average of $467.39. The Goldman Sachs Group, Inc. has a one year low of $289.36 and a one year high of $540.51. The company has a market capitalization of $168.52 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.47 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 35.52 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.30%. The Goldman Sachs Group’s payout ratio is currently 46.86%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup upped their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. UBS Group increased their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets boosted their target price on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $504.75.

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.