The Goldman Sachs Group (NYSE:GS) Trading Down 0.9% – What’s Next?

The Goldman Sachs Group, Inc. (NYSE:GS) shares dropped 0.9% during mid-day trading on Thursday . The company traded as low as $519.45 and last traded at $519.83. Approximately 253,988 shares traded hands during trading, a decline of 88% from the average daily volume of 2,186,066 shares. The stock had previously closed at $524.40.

Wall Street Analyst Weigh In

GS has been the subject of a number of recent research reports. Evercore ISI increased their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their price target on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. JMP Securities lifted their target price on The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Finally, Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Trading Down 0.9 %

The company has a debt-to-equity ratio of 2.07, a current ratio of 1.11 and a quick ratio of 0.72. The business’s fifty day simple moving average is $501.86 and its 200 day simple moving average is $475.93. The stock has a market cap of $164.18 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.75 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter last year, the business posted $5.47 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently bought and sold shares of GS. Allspring Global Investments Holdings LLC boosted its stake in The Goldman Sachs Group by 19.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 115,760 shares of the investment management company’s stock worth $48,352,000 after purchasing an additional 18,859 shares during the period. Norden Group LLC purchased a new position in shares of The Goldman Sachs Group during the 1st quarter valued at $2,423,000. Kovack Advisors Inc. increased its stake in shares of The Goldman Sachs Group by 18.5% in the first quarter. Kovack Advisors Inc. now owns 2,790 shares of the investment management company’s stock worth $1,165,000 after acquiring an additional 435 shares during the last quarter. FORVIS Wealth Advisors LLC raised its holdings in shares of The Goldman Sachs Group by 26.5% during the first quarter. FORVIS Wealth Advisors LLC now owns 2,108 shares of the investment management company’s stock worth $880,000 after acquiring an additional 441 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in The Goldman Sachs Group by 42.2% during the first quarter. Private Advisor Group LLC now owns 26,336 shares of the investment management company’s stock valued at $11,000,000 after purchasing an additional 7,822 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.