The Goldman Sachs Group (NYSE:GS) Sets New 1-Year High – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS) reached a new 52-week high during trading on Monday . The company traded as high as $612.50 and last traded at $612.50, with a volume of 7097 shares changing hands. The stock had previously closed at $602.78.

Wall Street Analyst Weigh In

A number of research firms have commented on GS. Oppenheimer raised their target price on shares of The Goldman Sachs Group from $614.00 to $661.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Citigroup raised 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 research report on Thursday. Bank of America lifted their price objective 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. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average price target of $542.00.

The Goldman Sachs Group Stock Performance

The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50 day moving average is $529.52 and its 200-day moving average is $494.47. The stock has a market capitalization of $189.09 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.88 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same period in the previous year, the business posted $5.47 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. Analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.99%. 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 news, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $34,358,685.04. This represents a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly 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. Over the last ninety days, insiders sold 11,390 shares of company stock worth $6,656,119. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of large investors have recently modified their holdings of GS. Mizuho Securities USA LLC lifted its position in shares of The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after purchasing an additional 7,475,140 shares in the last quarter. AMF Tjanstepension AB lifted its position in shares of The Goldman Sachs Group by 1,102.4% during the second quarter. AMF Tjanstepension AB now owns 810,836 shares of the investment management company’s stock worth $366,780,000 after purchasing an additional 743,402 shares in the last quarter. FMR LLC lifted its position in shares of The Goldman Sachs Group by 21.9% during the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after purchasing an additional 521,054 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of The Goldman Sachs Group by 7,932.6% during the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after purchasing an additional 438,754 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of The Goldman Sachs Group by 878.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after purchasing an additional 356,512 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.