The Goldman Sachs Group, Inc. $GS Stock Position Lifted by Allstate Corp

Key Points

• Allstate increased its Goldman Sachs stake by 20.1% in the second quarter, bringing its holdings to 25,973 shares valued at approximately $26.3 million. Institutional investors collectively own 71.21% of GS stock.
• Analyst sentiment is generally positive, with GS receiving a “Moderate Buy” consensus rating and an average price target of $1,062.86, although ratings range from Strong Buy to Sell.
• Goldman Sachs reported stronger-than-expected quarterly results, including $20.98 in EPS and $20.34 billion in revenue, while revenue rose 39.4% year over year. The company also raised its quarterly dividend from $4.50 to $5.00 per share.

Allstate Corp raised its stake in The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 20.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,973 shares of the investment management company's stock after buying an additional 4,349 shares during the quarter. Allstate Corp's holdings in The Goldman Sachs Group were worth $26,268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Turim 21 Investimentos Ltda. purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth $25,000. BOK Financial Private Wealth Inc. grew its stake in The Goldman Sachs Group by 188.9% in the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company's stock valued at $26,000 after purchasing an additional 17 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at about $26,000. Manning & Napier Advisors LLC increased its position in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock worth $27,000 after purchasing an additional 23 shares during the last quarter. Finally, Steph & Co. acquired a new position in The Goldman Sachs Group in the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 71.21% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GS shares. HSBC upgraded The Goldman Sachs Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. BMO Capital Markets raised their price objective on shares of The Goldman Sachs Group from $1,070.00 to $1,190.00 and gave the company a "market perform" rating in a research report on Wednesday, July 15th. Oppenheimer cut shares of The Goldman Sachs Group from a "market perform" rating to an "underperform" rating in a research note on Tuesday, June 30th. Finally, CICC Research boosted their target price on shares of The Goldman Sachs Group from $825.00 to $980.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,062.86.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $1,036.86 on Tuesday. The stock has a market capitalization of $301.90 billion, a P/E ratio of 16.00, a P/E/G ratio of 1.05 and a beta of 1.30. The business has a 50-day moving average of $1,053.15 and a two-hundred day moving average of $965.21. The Goldman Sachs Group, Inc. has a fifty-two week low of $721.16 and a fifty-two week high of $1,153.99. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts' consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The firm's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.91 EPS. On average, equities research analysts predict that The Goldman Sachs Group, Inc. will post 68.89 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be given a dividend of $5.00 per share. This is a boost from The Goldman Sachs Group's previous quarterly dividend of $4.50. This represents a $20.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 1st. The Goldman Sachs Group's dividend payout ratio (DPR) is presently 27.78%.

The Goldman Sachs Group News Roundup

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

• Positive Sentiment: Goldman’s involvement with potential future IPOs, including beverage brand Liquid Death, could support investment-banking revenue if the company proceeds with a public offering. However, Liquid Death’s CEO did not provide a timeline. Liquid Death CEO Dodges IPO Question Despite Goldman Sachs Ties
• Positive Sentiment: Goldman research highlighting stronger-than-reported Chinese gold demand and renewed expectations for Chinese economic easing could benefit the firm’s commodities, markets and advisory activity if trading and capital flows increase. China Gold Buying Far Exceeds Official PBOC Reports, Goldman Sachs Data Shows
• Neutral Sentiment: Goldman executive Chris Churchman warned that excessive reliance on AI could cause “cognitive atrophy” among junior bankers. The comments emphasize the need to preserve Goldman’s apprenticeship model while using AI, but do not indicate a change to earnings or strategy. Goldman Sachs partner warns of huge danger in letting AI replace bankers’ reasoning skills
• Neutral Sentiment: Articles comparing GS with finance peers and discussing Goldman’s stock performance provide market context but no new fundamental catalyst. Is The Goldman Sachs Group Stock Outpacing Its Finance Peers This Year?
• Negative Sentiment: Mark Walter’s TWG Global hired a former Goldman executive as its top lawyer while federal authorities investigate how two TWG-linked insurers classified more than $20 billion in loans. Although Goldman is not identified as the investigation’s target, the connection may create reputational and headline risk. Mark Walter’s TWG Global hires Goldman veteran Markowitz as top lawyer amid probe of insurers

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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