The Goldman Sachs Group (NYSE:GS) Trading Down 0.7% – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS) shares traded down 0.7% during mid-day trading on Tuesday . The company traded as low as $575.51 and last traded at $583.61. 453,862 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 2,216,738 shares. The stock had previously closed at $587.99.

Analyst Upgrades and Downgrades

GS has been the subject of a number of research analyst reports. Barclays upped their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. JMP Securities boosted their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Morgan Stanley lifted their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Bank of America raised their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Five investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Stock Performance

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 stock’s 50-day moving average price is $524.58 and its 200 day moving average price is $491.95. The company has a market cap of $182.67 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the business posted $5.47 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, research analysts expect that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently announced 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. This represents a $12.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the firm’s 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 completion of the sale, the insider now owns 10,095 shares of the company’s stock, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $596.36, for a total value of $3,826,245.76. Following the completion of the transaction, the executive vice president now owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. The trade was a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock valued at $6,656,119 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GS. Mizuho Securities USA LLC raised its stake in shares of The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after acquiring an additional 7,475,140 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of The Goldman Sachs Group by 2.7% during the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after buying an additional 161,133 shares during the last quarter. FMR LLC lifted its stake in shares of The Goldman Sachs Group by 21.9% in the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after purchasing an additional 521,054 shares during the period. Legal & General Group Plc grew its position in shares of The Goldman Sachs Group by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after buying an additional 77,700 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of The Goldman Sachs Group by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after acquiring an additional 68,141 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

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.