Pin Oak Investment Advisors Inc. Sells 80 Shares of The Goldman Sachs Group, Inc. $GS

Pin Oak Investment Advisors Inc. reduced its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 733 shares of the investment management company’s stock after selling 80 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in The Goldman Sachs Group were worth $519,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GS. Canada Pension Plan Investment Board grew its position in The Goldman Sachs Group by 28.6% during the first quarter. Canada Pension Plan Investment Board now owns 524,296 shares of the investment management company’s stock worth $286,418,000 after buying an additional 116,535 shares in the last quarter. Ignite Planners LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $239,000. Bank of New York Mellon Corp increased its position in shares of The Goldman Sachs Group by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 3,379,900 shares of the investment management company’s stock valued at $2,392,124,000 after purchasing an additional 157,473 shares during the period. Blueshift Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 161.8% in the first quarter. Blueshift Asset Management LLC now owns 1,055 shares of the investment management company’s stock valued at $576,000 after purchasing an additional 652 shares in the last quarter. Finally, Jump Financial LLC bought a new position in The Goldman Sachs Group in the first quarter worth $9,596,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, COO John E. Waldron sold 9,244 shares of the 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 sale, the chief operating officer owned 115,268 shares of the company’s stock, valued at $86,463,679.48. This represents a 7.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HSBC boosted their price target on shares of The Goldman Sachs Group from $652.00 to $677.00 in a report on Thursday, October 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $750.00 price target (up previously from $625.00) on shares of The Goldman Sachs Group in a research report on Tuesday, October 21st. Morgan Stanley cut their price target on shares of The Goldman Sachs Group from $854.00 to $828.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 15th. Evercore ISI upped their price objective on The Goldman Sachs Group from $752.00 to $830.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $786.00.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $776.42 on Tuesday. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $841.28. The firm has a 50 day moving average of $785.78 and a 200-day moving average of $713.29. The company has a current ratio of 1.11, a quick ratio of 0.67 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $232.87 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.41.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, topping analysts’ consensus estimates of $10.27 by $1.98. The Goldman Sachs Group had a return on equity of 14.79% and a net margin of 13.18%.The business had revenue of $15.18 billion for the quarter, compared to analyst estimates of $13.68 billion. During the same period in the prior year, the company earned $8.40 EPS. The Goldman Sachs Group’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, sell-side analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 2nd will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 32.50%.

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.