Allstate Corp Takes $5.36 Million Position in The Goldman Sachs Group, Inc. (NYSE:GS)

Allstate Corp bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) during the 4th quarter, Holdings Channel reports. The institutional investor bought 9,355 shares of the investment management company’s stock, valued at approximately $5,357,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GS. Stephens Consulting LLC purchased a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $26,000. Asset Planning Inc purchased a new position in The Goldman Sachs Group in the fourth quarter valued at about $29,000. Curio Wealth LLC acquired a new position in shares of The Goldman Sachs Group during the fourth quarter worth about $30,000. Whipplewood Advisors LLC purchased a new stake in shares of The Goldman Sachs Group in the fourth quarter worth about $34,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $543.04 on Friday. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group, Inc. has a 12 month low of $387.12 and a 12 month high of $672.19. The company has a fifty day moving average price of $608.15 and a two-hundred day moving average price of $570.93. The company has a market cap of $169.45 billion, a PE ratio of 13.39, a P/E/G ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, beating the consensus estimate of $8.21 by $3.74. The business had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The company’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the business posted $5.48 EPS. Research analysts expect that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 28th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 28th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Insider Activity at The Goldman Sachs Group

In related news, Treasurer Carey Halio sold 1,545 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $624.67, for a total value of $965,115.15. Following the sale, the treasurer now directly owns 8,192 shares in the company, valued at $5,117,296.64. This trade represents a 15.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alex S. Golten sold 5,208 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $636.25, for a total transaction of $3,313,590.00. Following the completion of the transaction, the insider now owns 3,545 shares of the company’s stock, valued at approximately $2,255,506.25. This trade represents a 59.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,925 shares of company stock worth $12,630,683 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GS shares. UBS Group boosted their price target on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their target price on shares of The Goldman Sachs Group from $605.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $690.00 to $660.00 in a report on Thursday, February 27th. Oppenheimer lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 19th. Finally, Barclays raised their target price on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $590.60.

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.