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

The Goldman Sachs Group, Inc. (NYSE:GS) was up 1.6% on Friday . The stock traded as high as $525.86 and last traded at $525.84. Approximately 249,496 shares traded hands during trading, a decline of 89% from the average daily volume of 2,185,458 shares. The stock had previously closed at $517.79.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GS shares. Keefe, Bruyette & Woods boosted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada reaffirmed 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. UBS Group upped their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $524.69.

The Goldman Sachs Group Stock Performance

The business has a 50-day moving average of $502.45 and a two-hundred day moving average of $477.61. The company has a market cap of $164.01 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.75 and a beta of 1.35. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.11 and a quick ratio of 0.72.

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 the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.05% and a net margin of 9.89%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $5.47 earnings per share. On average, sell-side analysts predict that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated 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 approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GS. Norden Group LLC purchased a new position in shares of The Goldman Sachs Group in the first quarter worth about $220,000. BNP Paribas purchased a new position in shares of The Goldman Sachs Group in the first quarter worth about $1,194,000. Lincoln National Corp raised its position in The Goldman Sachs Group by 10.6% during the first quarter. Lincoln National Corp now owns 8,618 shares of the investment management company’s stock valued at $3,600,000 after acquiring an additional 826 shares in the last quarter. Nordea Investment Management AB raised its position in The Goldman Sachs Group by 37.7% during the first quarter. Nordea Investment Management AB now owns 242,709 shares of the investment management company’s stock valued at $101,161,000 after acquiring an additional 66,479 shares in the last quarter. Finally, Haverford Trust Co raised its position in The Goldman Sachs Group by 36.0% during the first quarter. Haverford Trust Co now owns 2,267 shares of the investment management company’s stock valued at $947,000 after acquiring an additional 600 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other 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.