The Goldman Sachs Group, Inc. $GS Shares Purchased by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in Goldman Sachs during the fourth quarter, buying an additional 11,973 shares to bring its total to 23,026 shares valued at about $20.24 million.
• Goldman Sachs reported strong quarterly results, with earnings per share of $17.55 topping estimates by $1.63 and revenue rising 14.4% year over year to $17.23 billion.
• Analyst sentiment remains mixed: Goldman has a consensus rating of Hold with an average price target of $943.95, even as some firms recently raised their targets and a few lowered ratings.

Allstate Corp increased its stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 108.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 23,026 shares of the investment management company's stock after acquiring an additional 11,973 shares during the period. Allstate Corp's holdings in The Goldman Sachs Group were worth $20,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in The Goldman Sachs Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 29,014,431 shares of the investment management company's stock worth $25,503,685,000 after acquiring an additional 418,820 shares in the last quarter. Fisher Asset Management LLC lifted its position in The Goldman Sachs Group by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,771,556 shares of the investment management company's stock worth $5,952,199,000 after acquiring an additional 110,134 shares in the last quarter. Invesco Ltd. lifted its position in The Goldman Sachs Group by 3.5% during the 3rd quarter. Invesco Ltd. now owns 2,913,172 shares of the investment management company's stock worth $2,319,905,000 after acquiring an additional 97,387 shares in the last quarter. Legal & General Group Plc lifted its position in The Goldman Sachs Group by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 2,110,119 shares of the investment management company's stock worth $1,680,393,000 after acquiring an additional 28,642 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in The Goldman Sachs Group by 110.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,780,620 shares of the investment management company's stock worth $1,417,997,000 after acquiring an additional 936,015 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GS. Weiss Ratings lowered The Goldman Sachs Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, May 8th. Dbs Bank upped their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. BMO Capital Markets upped their target price on The Goldman Sachs Group from $905.00 to $972.00 and gave the company a "market perform" rating in a research report on Monday, April 20th. Bank of America cut their target price on The Goldman Sachs Group from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Tuesday, April 14th. Finally, HSBC upped their target price on The Goldman Sachs Group from $729.00 to $765.00 in a research report on Monday, May 4th. Nine analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $943.95.

Key Headlines Impacting The Goldman Sachs Group

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

• Positive Sentiment: CEO David Solomon said fears that AI will cause a broad “job apocalypse” are overblown, framing AI as a productivity and workforce-shaping force rather than a job destroyer. That message may reassure investors that AI adoption can support economic growth and business activity instead of crushing demand. Article Title
• Positive Sentiment: Goldman Sachs data showed hedge funds are increasing technology stock exposure at a record pace on AI optimism, signaling strong risk appetite in the sector and reinforcing Goldman’s positioning as a key source of market intelligence. Article Title
• Positive Sentiment: Goldman research suggested AI agents could meaningfully boost tech cash flow and token usage, supporting the investment case for continued AI infrastructure spending and keeping Goldman tied to the dominant market theme. Article Title
• Positive Sentiment: Goldman also highlighted liquid cooling as a next-wave AI trade, which underscores its active role in identifying investable themes across the AI supply chain and may boost investor attention to Goldman’s research franchise. Article Title

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $996.73 on Tuesday. The Goldman Sachs Group, Inc. has a twelve month low of $582.50 and a twelve month high of $1,005.36. 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 company has a market capitalization of $294.04 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.28 and a beta of 1.28. The business has a 50 day simple moving average of $896.71 and a 200-day simple moving average of $886.74.

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

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 1st will be issued a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's payout ratio is 32.89%.

Insider Transactions at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 6,857 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the completion of the sale, the chief financial officer directly owned 31,070 shares in the company, valued at approximately $30,248,198.50. The trade was a 18.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the sale, the insider owned 15,657 shares of the company's stock, valued at $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,681 shares of company stock valued at $31,737,875 over the last 90 days. Insiders own 0.55% of the company's stock.

The Goldman Sachs Group Profile

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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