The Goldman Sachs Group (NYSE:GS) Shares Down 1% – Here’s What Happened
by Sarita Garza · The Markets DailyThe Goldman Sachs Group, Inc. (NYSE:GS – Get Free Report) shares dropped 1% during mid-day trading on Tuesday . The company traded as low as $595.42 and last traded at $596.07. Approximately 437,477 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,223,020 shares. The stock had previously closed at $602.34.
Wall Street Analysts Forecast Growth
GS has been the topic of a number of recent research reports. Morgan Stanley increased their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. UBS Group raised their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. JMP Securities raised their price objective 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. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Finally, Bank of America raised their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $527.63.
View Our Latest Analysis on The Goldman Sachs Group
The Goldman Sachs Group Trading Down 1.0 %
The firm has a fifty day moving average of $513.80 and a two-hundred day moving average of $486.51. The company has a market cap of $184.72 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. 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 Goldman Sachs Group (NYSE:GS – Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share 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 during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the firm posted $5.47 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.
The Goldman Sachs Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 35.21%.
Insider Buying and Selling at The Goldman Sachs Group
In other news, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the completion of the sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This trade represents a 10.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian J. Lee sold 2,000 shares of the business’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 value 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 $5,359,435.50. The trade was a 16.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,390 shares of company stock valued at $6,656,119 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.
Institutional Trading of The Goldman Sachs Group
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Semmax Financial Advisors Inc. bought a new stake in The Goldman Sachs Group in the second quarter valued at approximately $26,000. POM Investment Strategies LLC bought a new stake in The Goldman Sachs Group in the second quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in The Goldman Sachs Group in the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. lifted 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 valued at $28,000 after purchasing an additional 31 shares during the last quarter. Finally, West Branch Capital LLC purchased a new position in shares of The Goldman Sachs Group during the third quarter valued at approximately $30,000. 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.
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