Goldman Sachs Gains Institutional Backing with Pin Oak Investment

Pin Oak Investment Advisors Inc., a financial firm, has acquired 1,978 shares of The Goldman Sachs Group, Inc.'s stock in the second quarter. This investment is valued at approximately $2 million and makes up about 1% of Pin Oak's portfolio.

The Goldman Sachs Group makes up the 26th biggest position in Pin Oak Investment Advisors' portfolio. Other major investors have also increased their stakes in The Goldman Sachs Group, including BlackRock Inc., Bank of America Corp DE, Norges Bank, Orange County Employees Retirement System, and Bank of New York Mellon Corp.

71.21% of the stock is owned by institutional investors. The company's stock has a market cap of $301 billion and a PE ratio of 15.96. Goldman Sachs reported earnings per share of $20.98 for the second quarter, beating expectations of $14.47.