The Goldman Sachs Group (NYSE:GS) Trading Up 1.6% – What’s Next?

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price traded up 1.6% on Wednesday . The stock traded as high as $602.11 and last traded at $601.93. 465,519 shares changed hands during trading, a decline of 79% from the average session volume of 2,223,919 shares. The stock had previously closed at $592.59.

Wall Street Analysts Forecast Growth

GS has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Barclays boosted their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Oppenheimer lifted their price objective on The Goldman Sachs Group from $614.00 to $661.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Citigroup upped their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Finally, 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 research note on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $527.63.

The Goldman Sachs Group Stock Up 0.4 %

The firm has a market capitalization of $186.68 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 0.86 and a beta of 1.35. The stock has a 50 day moving average of $511.74 and a 200 day moving average of $485.75. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the previous year, the firm earned $5.47 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, analysts expect that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given 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 yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred 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 directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock valued at $6,656,119 over the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GS. TBH Global Asset Management LLC boosted its holdings in The Goldman Sachs Group by 8.5% during the first quarter. TBH Global Asset Management LLC now owns 3,156 shares of the investment management company’s stock worth $1,318,000 after buying an additional 248 shares in the last quarter. Delta Investment Management LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at $268,000. Kingsview Wealth Management LLC increased its stake in The Goldman Sachs Group by 8.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 4,029 shares of the investment management company’s stock worth $1,683,000 after purchasing an additional 330 shares in the last quarter. Midwest Professional Planners LTD. raised its holdings in The Goldman Sachs Group by 35.0% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,953 shares of the investment management company’s stock worth $1,651,000 after buying an additional 1,024 shares during the period. Finally, Picton Mahoney Asset Management lifted its stake in The Goldman Sachs Group by 166.2% during the first quarter. Picton Mahoney Asset Management now owns 49,461 shares of the investment management company’s stock valued at $20,659,000 after buying an additional 30,883 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

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.