Allstate Corp Boosts Stake in The Goldman Sachs Group, Inc. $GS

Key Points

• Allstate Corp increased its stake in The Goldman Sachs Group, Inc. by 41.4% in Q1, owning 13,229 shares valued at $7.2 million as of the end of the quarter.
• The Goldman Sachs Group announced a quarterly dividend of $4.00 per share, representing a boost from the previous $3.00 dividend, with a yield of 2.2%.
• The investment management company reported $10.91 EPS for the last quarter, surpassing analysts' expectations and showing a 14.5% increase in revenue year-over-year.

Allstate Corp raised its holdings in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 41.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,229 shares of the investment management company's stock after buying an additional 3,874 shares during the quarter. Allstate Corp's holdings in The Goldman Sachs Group were worth $7,227,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. King Wealth Management Group grew its position in shares of The Goldman Sachs Group by 1.8% in the 1st quarter. King Wealth Management Group now owns 1,086 shares of the investment management company's stock worth $593,000 after buying an additional 19 shares during the last quarter. Wynn Capital LLC grew its position in shares of The Goldman Sachs Group by 0.3% in the 1st quarter. Wynn Capital LLC now owns 5,877 shares of the investment management company's stock worth $3,211,000 after buying an additional 20 shares during the last quarter. 1900 Wealth Management LLC grew its position in shares of The Goldman Sachs Group by 2.6% in the 1st quarter. 1900 Wealth Management LLC now owns 777 shares of the investment management company's stock worth $425,000 after buying an additional 20 shares during the last quarter. Register Financial Advisors LLC grew its position in shares of The Goldman Sachs Group by 2.5% in the 1st quarter. Register Financial Advisors LLC now owns 805 shares of the investment management company's stock worth $440,000 after buying an additional 20 shares during the last quarter. Finally, World Equity Group Inc. grew its position in shares of The Goldman Sachs Group by 0.9% in the 1st quarter. World Equity Group Inc. now owns 2,330 shares of the investment management company's stock worth $1,273,000 after buying an additional 20 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. HSBC restated a "reduce" rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a research note on Tuesday, July 8th. Citigroup raised their target price on The Goldman Sachs Group from $550.00 to $700.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Citizens Jmp restated a "market perform" rating on shares of The Goldman Sachs Group in a research note on Monday, July 14th. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of The Goldman Sachs Group in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $660.00.

The Goldman Sachs Group Stock Up 3.6%

NYSE:GS traded up $25.8940 during trading hours on Friday, reaching $741.8440. 1,948,403 shares of the company traded hands, compared to its average volume of 1,761,464. The business's 50-day moving average price is $705.56 and its two-hundred day moving average price is $620.45. The stock has a market capitalization of $224.57 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.58 and a beta of 1.38. The Goldman Sachs Group, Inc. has a 1 year low of $439.38 and a 1 year high of $749.05. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.82 by $1.09. The business had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 14.32% and a net margin of 12.37%.The firm's quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.62 earnings per share. Analysts predict that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $4.00 per share. The ex-dividend date is Friday, August 29th. This represents a $16.00 annualized dividend and a yield of 2.2%. This is a positive change from The Goldman Sachs Group's previous quarterly dividend of $3.00. The Goldman Sachs Group's dividend payout ratio (DPR) is 26.44%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, EVP John F.W. Rogers sold 6,008 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $717.39, for a total transaction of $4,310,079.12. Following the sale, the executive vice president directly owned 65,761 shares in the company, valued at approximately $47,176,283.79. This trade represents a 8.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David M. Solomon sold 6,608 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the sale, the chief executive officer owned 126,176 shares in the company, valued at approximately $89,876,426.56. This represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,079 shares of company stock worth $14,423,221. Insiders own 0.55% of the company's stock.

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.