AlphaCore Capital LLC Raises Stake in The Goldman Sachs Group, Inc. $GS

AlphaCore Capital LLC lifted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS) by 39.4% in the fourth quarter, Holdings Channel reports. The firm owned 2,336 shares of the investment management company’s stock after purchasing an additional 660 shares during the period. AlphaCore Capital LLC’s holdings in The Goldman Sachs Group were worth $2,053,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GS. Dagco Inc. purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter worth about $25,000. Manning & Napier Advisors LLC grew its holdings in shares of The Goldman Sachs Group by 287.5% during 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 period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter worth about $31,000. Graney & King LLC grew its holdings in shares of The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after purchasing an additional 17 shares during the period. Finally, Joseph Group Capital Management purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $949.89 on Friday. The Goldman Sachs Group, Inc. has a twelve month low of $582.50 and a twelve month high of $984.70. 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 $280.23 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 1.22 and a beta of 1.28. The business has a 50 day simple moving average of $878.61 and a 200-day simple moving average of $878.32.

The Goldman Sachs Group (NYSE:GS) 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 1.9%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group’s payout ratio is 32.89%.

Insider Activity

In other news, CAO Sheara J. Fredman sold 10,301 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% 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 company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the transaction, the insider owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,824 shares of company stock worth $25,062,242. 0.55% of the stock is currently owned by insiders.

The Goldman Sachs Group News Summary

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BNP Paribas Exane decreased their target price on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a report on Friday, April 24th. BMO Capital Markets boosted their target price on The Goldman Sachs Group from $905.00 to $972.00 and gave the stock a “market perform” rating in a report on Monday, April 20th. Jefferies Financial Group decreased their target price on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating for the company in a report on Monday, April 6th. UBS Group boosted their price target on The Goldman Sachs Group from $930.00 to $940.00 in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada reissued a “neutral” rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Eight research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $942.24.

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.