Allworth Financial LP Purchases 1,112 Shares of The Goldman Sachs Group, Inc. $GS

Key Points

• Allworth Financial LP increased its stake in Goldman Sachs by 12.3% in the fourth quarter, buying 1,112 additional shares and bringing its total holdings to 10,171 shares worth about $8.94 million.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 beating estimates and revenue of $17.23 billion topping forecasts; revenue also rose 14.4% year over year.
• The company also announced a quarterly dividend of $4.50 per share, payable June 29, while analysts currently rate the stock a consensus Hold with a target price of $942.24.

Allworth Financial LP boosted its position in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 12.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,171 shares of the investment management company's stock after buying an additional 1,112 shares during the period. Allworth Financial LP's holdings in The Goldman Sachs Group were worth $8,940,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GS. Castle Rock Wealth Management LLC grew its holdings in shares of The Goldman Sachs Group by 2.4% in the fourth quarter. Castle Rock Wealth Management LLC now owns 3,022 shares of the investment management company's stock valued at $2,795,000 after acquiring an additional 71 shares in the last quarter. Moneco Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 4.3% in the fourth quarter. Moneco Advisors LLC now owns 2,026 shares of the investment management company's stock valued at $1,781,000 after acquiring an additional 84 shares in the last quarter. Stonebridge Financial Group LLC MO purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $224,000. Global Wealth Management Investment Advisory Inc. lifted its stake in The Goldman Sachs Group by 6.8% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 282 shares of the investment management company's stock valued at $248,000 after purchasing an additional 18 shares during the last quarter. Finally, Summit Wealth Group LLC Co. purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $387,000. 71.21% of the stock is owned by institutional investors.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs lowered its 12-month U.S. recession probability to 25% from 30%, citing a resilient labor market and solid economic activity. That suggests a healthier macro backdrop for banks and markets overall. Goldman Slashes Recession Risk Odds as Labor Market Remains Resilient
• Neutral Sentiment: Goldman Sachs analysts remained active across several names, including Buy ratings on Telefonica, MercadoLibre, Insulet, Marathon Petroleum, UnitedHealth and ORIC Pharma, showing the firm continues to influence market sentiment but without direct impact on GS itself.
• Neutral Sentiment: There were also multiple media references to Goldman strategists warning that the recent market rally and volatility setup could imply more upside, but those commentary pieces were market-wide in nature and not specific to Goldman Sachs stock.
• Negative Sentiment: Financial stocks were weaker in afternoon trading, with the NYSE Financial Index down about 0.5%, which likely pressured Goldman Sachs shares along with the broader sector. Sector Update: Financial Stocks Lower in Afternoon Trading

Insider Activity

In other news, insider Alex S. Golten sold 1,116 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total transaction of $1,044,776.88. Following the sale, the insider directly owned 2,578 shares in the company, valued at approximately $2,413,472.04. This represents a 30.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sheara J. Fredman sold 10,301 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total transaction of $9,571,380.17. Following the sale, the chief accounting officer owned 6,338 shares in the company, valued at $5,889,079.46. This represents a 61.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 26,824 shares of company stock worth $25,062,242. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on GS shares. Zacks Research downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 16th. Citigroup upped their price objective on The Goldman Sachs Group from $765.00 to $930.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. HSBC upped their price objective on The Goldman Sachs Group from $729.00 to $765.00 in a research note on Monday, May 4th. Morgan Stanley dropped their price objective on The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Finally, BMO Capital Markets upped their price objective on The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a research note on Monday, April 20th. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $942.24.

The Goldman Sachs Group Stock Performance

The Goldman Sachs Group stock opened at $949.89 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group, Inc. has a 1-year low of $582.50 and a 1-year high of $984.70. The firm has a 50-day moving average of $878.61 and a 200-day moving average of $878.32. The firm has a market cap of $280.23 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.25 and a beta of 1.28.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.92 by $1.63. The firm had revenue of $17.23 billion during the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business's revenue was up 14.4% on a year-over-year basis. During the same period last year, the business earned $14.12 earnings per share. Sell-side analysts expect that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be given a dividend of $4.50 per share. This represents a $18.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is currently 32.89%.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs' core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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