Goldman Sachs Group Inc. (GS) to Issue $0.65 Quarterly Dividend
Goldman Sachs Group Inc. (NYSE:GS) declared a quarterly dividend on Wednesday, October 19th. Stockholders of record on Thursday, December 1st will be given a dividend of 0.65 per share by the investment management company on Thursday, December 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Tuesday, November 29th.
Goldman Sachs Group (NYSE:GS) traded up 1.09% on Wednesday, hitting $174.51. 3,673,596 shares of the stock were exchanged. The stock has a market capitalization of $74.41 billion, a P/E ratio of 16.54 and a beta of 1.61. Goldman Sachs Group has a one year low of $138.20 and a one year high of $199.90. The company has a 50 day moving average of $167.16 and a 200 day moving average of $160.04.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 18th. The investment management company reported $4.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.79 by $1.09. The business earned $8.17 billion during the quarter, compared to the consensus estimate of $7.41 billion. Goldman Sachs Group had a net margin of 18.12% and a return on equity of 8.83%. Goldman Sachs Group’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.51 earnings per share. On average, equities research analysts forecast that Goldman Sachs Group will post $14.25 earnings per share for the current fiscal year.
In other news, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total value of $452,880.00. Following the transaction, the insider now directly owns 13,075 shares of the company’s stock, valued at $2,222,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $166.11, for a total transaction of $2,325,540.00. Following the completion of the transaction, the executive vice president now directly owns 33,634 shares in the company, valued at $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Stifel Financial Corp raised its position in shares of Goldman Sachs Group by 9.8% in the second quarter. Stifel Financial Corp now owns 76,729 shares of the investment management company’s stock valued at $11,402,000 after buying an additional 6,878 shares during the last quarter. Krilogy Financial LLC raised its position in shares of Goldman Sachs Group by 227.8% in the second quarter. Krilogy Financial LLC now owns 1,213 shares of the investment management company’s stock valued at $180,000 after buying an additional 843 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of Goldman Sachs Group during the second quarter valued at $267,000. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Goldman Sachs Group by 35.5% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 808,612 shares of the investment management company’s stock valued at $120,144,000 after buying an additional 211,800 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in Goldman Sachs Group during the second quarter valued at approximately $3,120,000. 71.33% of the stock is currently owned by institutional investors.
GS has been the subject of a number of analyst reports. Bank of America Corp. restated a “buy” rating and set a $160.00 price objective (down previously from $185.00) on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Citigroup Inc. restated a “buy” rating on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Vetr upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $153.68 price objective for the company in a report on Tuesday, July 5th. JPMorgan Chase & Co. set a $163.00 price objective on shares of Goldman Sachs Group and gave the company a “buy” rating in a report on Monday, June 27th. Finally, Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. Goldman Sachs Group has an average rating of “Hold” and a consensus price target of $182.81.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
Receive News & Stock Ratings for Goldman Sachs Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group Inc. and related stocks with our FREE daily email newsletter.