Allstate Corp Buys New Shares in The Goldman Sachs Group, Inc. (NYSE:GS)

Allstate Corp bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,355 shares of the investment management company's stock, valued at approximately $5,357,000.

Other institutional investors have also recently bought and sold shares of the company. Stephens Consulting LLC acquired a new stake in The Goldman Sachs Group in the fourth quarter valued at $26,000. Asset Planning Inc acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at about $29,000. Curio Wealth LLC bought a new position in The Goldman Sachs Group during the fourth quarter worth about $30,000. Whipplewood Advisors LLC acquired a new position in The Goldman Sachs Group during the fourth quarter worth approximately $34,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in The Goldman Sachs Group in the fourth quarter valued at approximately $37,000. Institutional investors own 71.21% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on GS. Citigroup reduced their target price on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Keefe, Bruyette & Woods downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $690.00 to $660.00 in a report on Thursday, February 27th. UBS Group boosted their price objective on The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a "neutral" rating in a report on Tuesday, January 21st. Wells Fargo & Company dropped their price target on The Goldman Sachs Group from $720.00 to $680.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Finally, Barclays upped their price objective on The Goldman Sachs Group from $713.00 to $760.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group has a consensus rating of "Hold" and a consensus target price of $591.87.

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The Goldman Sachs Group Price Performance

Shares of GS stock traded up $14.96 during trading hours on Wednesday, reaching $563.41. The company's stock had a trading volume of 1,038,474 shares, compared to its average volume of 2,275,602. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a fifty-two week low of $387.12 and a fifty-two week high of $672.19. The company has a market capitalization of $175.81 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.89 and a beta of 1.37. The firm's 50 day simple moving average is $604.83 and its 200-day simple moving average is $573.37.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its earnings results on Wednesday, January 15th. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the previous year, the firm earned $5.48 earnings per share. The business's quarterly revenue was up 22.5% on a year-over-year basis. Sell-side analysts forecast 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 announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, February 28th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.13%. The Goldman Sachs Group's payout ratio is presently 29.59%.

Insider Transactions at The Goldman Sachs Group

In related news, insider Alex S. Golten sold 5,208 shares of the business's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $636.25, for a total value of $3,313,590.00. Following the sale, the insider now owns 3,545 shares of the company's stock, valued at $2,255,506.25. The trade was a 59.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kevin R. Johnson bought 2,400 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average cost of $619.02 per share, with a total value of $1,485,648.00. Following the completion of the transaction, the director now owns 2,400 shares in the company, valued at $1,485,648. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 19,925 shares of company stock worth $12,630,683. Corporate insiders own 0.55% of the company's stock.

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.