The Goldman Sachs Group (NYSE:GS) Trading 0.3% Higher – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS) shot up 0.3% on Tuesday . The company traded as high as $527.24 and last traded at $525.34. 486,709 shares traded hands during trading, a decline of 78% from the average session volume of 2,194,887 shares. The stock had previously closed at $523.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on GS shares. Barclays raised their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Oppenheimer lifted their target price on shares of The Goldman Sachs Group from $577.00 to $614.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Stock Performance

The firm has a market cap of $165.59 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.75 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07. The stock has a 50 day moving average of $500.76 and a 200 day moving average of $474.64.

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

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.29%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds have recently added to or reduced their stakes in the business. Claro Advisors LLC bought a new stake in shares of The Goldman Sachs Group in the 1st quarter valued at about $229,000. Tributary Capital Management LLC bought a new position in The Goldman Sachs Group during the 1st quarter worth approximately $33,000. Allspring Global Investments Holdings LLC lifted its position in shares of 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. Woodmont Investment Counsel LLC increased its position in shares of The Goldman Sachs Group by 108.7% during the first quarter. Woodmont Investment Counsel LLC now owns 1,344 shares of the investment management company’s stock worth $561,000 after buying an additional 700 shares during the period. Finally, Tower Wealth Partners Inc. raised its stake in The Goldman Sachs Group by 3.2% during the first quarter. Tower Wealth Partners Inc. now owns 1,133 shares of the investment management company’s stock worth $473,000 after buying an additional 35 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

About The Goldman Sachs Group

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.