The Goldman Sachs Group (NYSE:GS) Stock Price Down 0.5% – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS)’s share price fell 0.5% on Monday . The stock traded as low as $601.33 and last traded at $602.26. 375,589 shares traded hands during trading, a decline of 83% from the average session volume of 2,209,346 shares. The stock had previously closed at $605.57.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GS. JMP Securities raised their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Citigroup increased their target price on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Barclays increased 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. Finally, Morgan Stanley increased their price target 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. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $550.63.

The Goldman Sachs Group Stock Down 0.0 %

The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The business has a 50-day moving average price of $540.94 and a 200-day moving average price of $499.68. The firm has a market cap of $190.03 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released 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 business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.47 earnings per share. On average, equities analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Insider Activity

In other news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the sale, the executive vice president now directly owns 57,614 shares in the company, valued at $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock worth $6,656,119 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several hedge funds have recently modified their holdings of the business. POM Investment Strategies LLC purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in shares of The Goldman Sachs Group during the second quarter valued at $26,000. Headlands Technologies LLC bought a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth $27,000. SJS Investment Consulting Inc. grew its position in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares during the last quarter. 71.21% of the stock is 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.