AlpenGlobal Capital LLC Takes Position in The Goldman Sachs Group, Inc. $GS

Key Points

• AlpenGlobal Capital LLC opened a new position in Goldman Sachs during Q1, buying 1,858 shares valued at about $1.57 million. The stake now makes up roughly 1.0% of the firm’s holdings.
• Goldman Sachs reported strong quarterly results, with EPS of $17.55 beating estimates and revenue of $17.23 billion also topping expectations. Revenue rose 14.4% year over year.
• The company paid a quarterly dividend of $4.50 per share, or $18 annualized, for a yield of about 1.7%. Meanwhile, institutional ownership remains high at 71.21% of shares outstanding.

AlpenGlobal Capital LLC purchased a new position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,858 shares of the investment management company's stock, valued at approximately $1,572,000. The Goldman Sachs Group comprises about 1.0% of AlpenGlobal Capital LLC's holdings, making the stock its 27th largest holding.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in The Goldman Sachs Group during the fourth quarter worth $2,515,830,000. Corient Private Wealth LLC raised its position in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company's stock valued at $2,282,312,000 after purchasing an additional 2,448,767 shares during the period. Wellington Management Group LLP lifted its stake in shares of The Goldman Sachs Group by 110.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company's stock valued at $1,417,997,000 after purchasing an additional 936,015 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of The Goldman Sachs Group by 428.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company's stock valued at $488,947,000 after purchasing an additional 450,984 shares during the last quarter. Finally, Diamant Asset Management Inc. grew its holdings in shares of The Goldman Sachs Group by 84,499.0% during the 1st quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company's stock worth $35,785,000 after purchasing an additional 422,495 shares during the period. Hedge funds and other institutional investors own 71.21% of the company's stock.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $1,056.04 on Friday. The firm has a 50 day moving average of $1,017.99 and a two-hundred day moving average of $938.64. The stock has a market capitalization of $311.54 billion, a PE ratio of 19.30, a P/E/G ratio of 1.36 and a beta of 1.30. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The Goldman Sachs Group, Inc. has a 52 week low of $691.30 and a 52 week high of $1,125.00.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping analysts' consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.53% and a net margin of 14.13%.The company's revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $14.12 earnings per share. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 60.44 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a dividend of $4.50 per share. The ex-dividend date was Monday, June 1st. This represents a $18.00 annualized dividend and a yield of 1.7%. The Goldman Sachs Group's dividend payout ratio is 32.89%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 10,301 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the sale, the chief accounting officer owned 6,338 shares of the company's stock, valued at $5,889,079.46. This trade represents a 61.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alex S. Golten sold 1,116 shares of The Goldman Sachs Group stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $936.18, for a total value of $1,044,776.88. Following the completion of the transaction, the insider owned 2,578 shares of the company's stock, valued at $2,413,472.04. The trade was a 30.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,681 shares of company stock worth $31,737,875 in the last quarter. Company insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GS. Citigroup raised their price objective on The Goldman Sachs Group from $930.00 to $1,100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada reaffirmed a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. BMO Capital Markets lifted their price target on shares of The Goldman Sachs Group from $972.00 to $1,070.00 and gave the company a "market perform" rating in a research report on Monday, June 29th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $1,000.00 to $1,195.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Finally, UBS Group increased their price objective on shares of The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a "neutral" rating in a research report on Tuesday. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $986.91.

More The Goldman Sachs Group News

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

• Positive Sentiment: Goldman Sachs won two large retirement-plan asset management mandates from Verizon and Lockheed Martin, adding roughly $70 billion in new assets and expanding its outsourced CIO business. Goldman Sachs Secures Massive $70B Retirement Plan Contracts from Verizon and Lockheed Martin
• Positive Sentiment: Multiple previews ahead of Goldman’s July 14 Q2 earnings point to strong investment-banking and trading results, with expectations for higher revenue from market activity and advisory fees. Goldman Q2 Earnings on the Deck: What's in Store for the Stock?
• Positive Sentiment: Goldman’s own research highlighted improved conditions in currency carry trades and warned that higher FX volatility could benefit trading desks, reinforcing the view that market activity may support results. Carry Trades Face Best Conditions Since 2000, Goldman Sachs Says
• Neutral Sentiment: Goldman also moved to restrict employee use of prediction markets tied to finance and politics, a compliance-focused policy change that is unlikely to materially affect near-term earnings. Wall St. Sets Limits on Prediction Market Trading
• Neutral Sentiment: Several headlines were about Goldman’s analyst calls on other companies and broader market commentary, which are not direct catalysts for GS shares.

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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