The Goldman Sachs Group (NYSE:GS) Trading 0.8% Higher – What’s Next?

The Goldman Sachs Group, Inc. (NYSE:GS) traded up 0.8% during mid-day trading on Wednesday . The company traded as high as $530.78 and last traded at $528.49. 343,437 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 2,190,036 shares. The stock had previously closed at $524.28.

Analyst Ratings Changes

GS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group raised their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Oppenheimer increased their price objective on The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup upped their target price on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Finally, Bank of America raised their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $524.69.

The Goldman Sachs Group Stock Up 0.5 %

The company has a market cap of $166.43 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 0.75 and a beta of 1.36. 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 stock has a fifty day moving average price of $501.30 and a two-hundred day moving average price of $475.59.

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 the consensus estimate 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 Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $5.47 EPS. As a group, sell-side analysts expect that The Goldman Sachs Group, Inc. will post 37.14 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 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 35.21%.

Insider Activity

In other The Goldman Sachs Group 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 transaction, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several large investors have recently added to or reduced their stakes in the business. Procyon Advisors LLC increased its stake in The Goldman Sachs Group by 5.5% in the third quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock valued at $411,000 after purchasing an additional 43 shares in the last quarter. Brookstone Capital Management lifted its position 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 acquiring an additional 761 shares in the last quarter. Empowered Funds LLC boosted its stake in The Goldman Sachs Group by 62.7% during 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 bought a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $1,388,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of The Goldman Sachs Group by 34.2% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,256 shares of the investment management company’s stock worth $3,448,000 after purchasing an additional 2,103 shares during the last quarter. Institutional investors and hedge funds 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.