Goldman Sachs Group Inc (GS) to Issue $0.75 Quarterly Dividend
Goldman Sachs Group Inc (NYSE:GS) declared a quarterly dividend on Friday, January 19th, Wall Street Journal reports. Shareholders of record on Thursday, March 1st will be paid a dividend of 0.75 per share by the investment management company on Thursday, March 29th. This represents a $3.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, February 28th.
Goldman Sachs Group has raised its dividend by an average of 8.8% per year over the last three years and has raised its dividend every year for the last 6 years. Goldman Sachs Group has a payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Goldman Sachs Group to earn $24.18 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 12.4%.
Goldman Sachs Group (NYSE:GS) traded up $5.15 during midday trading on Friday, hitting $256.12. The stock had a trading volume of 4,639,023 shares, compared to its average volume of 3,605,721. Goldman Sachs Group has a fifty-two week low of $209.62 and a fifty-two week high of $262.14. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market cap of $96,610.00, a price-to-earnings ratio of 29.54, a PEG ratio of 0.91 and a beta of 1.47.
In other Goldman Sachs Group news, Vice Chairman Richard J. Gnodde sold 5,718 shares of Goldman Sachs Group stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $238.99, for a total value of $1,366,544.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David M. Solomon sold 2,400 shares of Goldman Sachs Group stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $238.49, for a total value of $572,376.00. The disclosure for this sale can be found here. Insiders have sold a total of 97,833 shares of company stock valued at $23,309,552 over the last three months. Corporate insiders own 2.57% of the company’s stock.
Several research firms have recently commented on GS. BMO Capital Markets reduced their price target on Goldman Sachs Group to $221.00 and set a “market perform” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $260.00 price target on shares of Goldman Sachs Group in a report on Thursday. Buckingham Research reiterated a “neutral” rating and set a $250.00 price target (up previously from $243.00) on shares of Goldman Sachs Group in a report on Wednesday, October 18th. Royal Bank of Canada lifted their price target on Goldman Sachs Group to $265.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Oppenheimer lifted their price target on Goldman Sachs Group from $301.00 to $313.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $254.67.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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