Granite Harbor Advisors Inc. Acquires Shares of 379 The Goldman Sachs Group, Inc. $GS

Key Points

• Granite Harbor Advisors Inc. acquired 379 shares of The Goldman Sachs Group valued at approximately $207,000 in the first quarter.
• The Goldman Sachs Group reported an earnings per share of $10.91 for the last quarter, exceeding analyst expectations by $1.09, with a revenue increase of 14.5% year-over-year.
• The company has declared a quarterly dividend of $4.00 per share, reflecting a positive adjustment from the previous $3.00 dividend, and a yield of 2.2%.

Granite Harbor Advisors Inc. bought a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 379 shares of the investment management company's stock, valued at approximately $207,000.

A number of other hedge funds also recently made changes to their positions in GS. Clal Insurance Enterprises Holdings Ltd bought a new stake in The Goldman Sachs Group in the 1st quarter valued at about $25,000. Mascagni Wealth Management Inc. bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at approximately $31,000. American Capital Advisory LLC purchased a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at approximately $29,000. Transce3nd LLC bought a new position in The Goldman Sachs Group in the 4th quarter worth approximately $31,000. Finally, Godsey & Gibb Inc. raised its holdings in The Goldman Sachs Group by 170.0% during the 1st quarter. Godsey & Gibb Inc. now owns 54 shares of the investment management company's stock valued at $30,000 after acquiring an additional 34 shares during the period. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Trading Down 2.2%

Shares of GS opened at $730.50 on Monday. The Goldman Sachs Group, Inc. has a fifty-two week low of $439.38 and a fifty-two week high of $749.05. The firm has a market cap of $221.14 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.55 and a beta of 1.38. The firm has a 50 day moving average price of $694.80 and a 200-day moving average price of $617.51. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Wednesday, July 16th. The investment management company reported $10.91 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $14.58 billion for the quarter, compared to analysts' expectations of $13.53 billion. During the same quarter last year, the company earned $8.62 EPS. The firm's revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $4.00 per share. This represents a $16.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 29th. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio is 26.44%.

Analyst Ratings Changes

A number of analysts recently issued reports on GS shares. Evercore ISI set a $715.00 price objective on The Goldman Sachs Group and gave the company an "outperform" rating in a research note on Thursday, July 10th. Citizens Jmp reissued a "market perform" rating on shares of The Goldman Sachs Group in a report on Monday, July 14th. JMP Securities restated a "market perform" rating and issued a $600.00 price objective on shares of The Goldman Sachs Group in a research report on Monday, July 14th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and a consensus price target of $660.00.

Insider Buying and Selling

In related news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company's stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John F.W. Rogers sold 6,008 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president owned 65,761 shares of the company's stock, valued at $47,176,283.79. This represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,079 shares of company stock worth $14,423,221 in the last ninety days. 0.55% of the stock is owned by insiders.

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.

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