The Goldman Sachs Group (NYSE:GS) Trading Down 0.6% – What’s Next?

Shares of The Goldman Sachs Group, Inc. (NYSE:GS) were down 0.6% during mid-day trading on Monday . The stock traded as low as $513.13 and last traded at $516.15. Approximately 376,169 shares were traded during trading, a decline of 83% from the average daily volume of 2,183,279 shares. The stock had previously closed at $519.35.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GS shares. Bank of America lifted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. UBS Group lifted 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, Citigroup lifted their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Down 1.2 %

The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07. The business has a fifty day simple moving average of $502.45 and a two-hundred day simple moving average of $478.13. The company has a market capitalization of $162.08 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 0.75 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for 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 period in the previous year, the business earned $5.47 earnings per share. Equities analysts expect that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is currently 35.21%.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were 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 in the company, valued at $5,359,435.50. This 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 link. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of large investors have recently made changes to their positions in GS. Procyon Advisors LLC boosted its stake in The Goldman Sachs Group by 5.5% in the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after purchasing an additional 43 shares during the period. Brookstone Capital Management lifted its stake in The Goldman Sachs Group by 19.9% in the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares during the last quarter. Empowered Funds LLC lifted its stake in The Goldman Sachs Group by 62.7% in the 1st quarter. Empowered Funds LLC now owns 6,301 shares of the investment management company’s stock valued at $2,632,000 after purchasing an additional 2,428 shares during the last quarter. Duality Advisers LP acquired a new stake in The Goldman Sachs Group in the 1st quarter valued at about $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in The Goldman Sachs Group by 34.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock valued at $3,448,000 after purchasing an additional 2,103 shares during 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.