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

Allstate Corp bought a new stake in The Goldman Sachs Group, Inc. (NYSE:GS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,355 shares of the investment management company’s stock, valued at approximately $5,357,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at $1,603,315,000. Raymond James Financial Inc. acquired a new position in The Goldman Sachs Group in the fourth quarter valued at $624,844,000. Proficio Capital Partners LLC raised its holdings in shares of The Goldman Sachs Group by 14,007.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,059,716 shares of the investment management company’s stock valued at $606,815,000 after buying an additional 1,052,204 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of The Goldman Sachs Group by 1,400.8% during the fourth quarter. Ieq Capital LLC now owns 419,095 shares of the investment management company’s stock worth $239,982,000 after buying an additional 391,170 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of The Goldman Sachs Group by 154.7% during the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock worth $205,403,000 after buying an additional 251,972 shares during the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $543.04 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The company’s 50-day moving average price is $608.15 and its 200 day moving average price is $570.93. The Goldman Sachs Group, Inc. has a 52 week low of $387.12 and a 52 week high of $672.19. The stock has a market cap of $169.45 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.89 and a beta of 1.37.

The Goldman Sachs Group (NYSE:GS) last released 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 Goldman Sachs Group had a net margin of 11.32% and a return on equity of 13.30%. The business had revenue of $13.87 billion for the quarter, compared to analyst estimates of $12.36 billion. During the same period in the prior year, the business earned $5.48 earnings per share. The company’s quarterly revenue was up 22.5% on a year-over-year basis. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 28th were issued a $3.00 dividend. 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 2.21%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 29.59%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup decreased their price objective on The Goldman Sachs Group from $585.00 to $550.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Keefe, Bruyette & Woods lowered shares of The Goldman Sachs Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $690.00 to $660.00 in a research report on Thursday, February 27th. UBS Group upped their price objective on shares of 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. Morgan Stanley lowered their target price on shares of The Goldman Sachs Group from $782.00 to $659.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of The Goldman Sachs Group from $605.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $590.60.

Insider Activity

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