Goldman Sachs Draws Big Player Investment Amidst Acquisition and Earnings Success
Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management has made a significant investment in The Goldman Sachs Group, Inc. ($GS) through its latest 13F filing with the SEC. In the second quarter, Mivtachim purchased 5,200 shares of Goldman Sachs' stock, valued at approximately $5.26 million.
This new position makes up around 0.7% of Mivtachim's portfolio and is currently the company's 22nd biggest holding. This investment comes amidst other changes to positions in Goldman Sachs among institutional investors and hedge funds.
Meanwhile, Goldman Sachs has been making headlines with its own developments. The company has agreed to acquire LCN Capital Partners for up to $410 million, including $260 million upfront and performance-based consideration. This deal is expected to expand Goldman's Asset & Wealth Management business into private real estate and increase recurring, capital-light fee revenue.
Goldman Sachs also recently reported strong quarterly earnings results, exceeding analysts' expectations with a net margin of 15.53% and a return on equity of 19.16%. The company has a current ratio of 0.63, a quick ratio of 0.63, and a debt-to-equity ratio of 3.17.