Goldman Sachs Group Inc (GS) Raises Dividend to $0.85 Per Share

Goldman Sachs Group Inc (NYSE:GS) announced a quarterly dividend on Monday, April 15th, RTT News reports. Stockholders of record on Thursday, May 30th will be paid a dividend of 0.85 per share by the investment management company on Thursday, June 27th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, May 29th. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.80.

Goldman Sachs Group has raised its dividend by an average of 7.3% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Goldman Sachs Group has a dividend payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Goldman Sachs Group to earn $25.56 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 13.3%.

Shares of NYSE:GS opened at $191.97 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $71.53 billion, a PE ratio of 7.60, a PEG ratio of 1.28 and a beta of 1.24. Goldman Sachs Group has a 1 year low of $151.70 and a 1 year high of $245.08.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Monday, April 15th. The investment management company reported $5.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.97. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $8.89 billion. Goldman Sachs Group had a return on equity of 12.79% and a net margin of 25.13%. The business’s revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $6.95 earnings per share. Research analysts anticipate that Goldman Sachs Group will post 23.18 EPS for the current fiscal year.

A number of equities analysts have weighed in on GS shares. Odeon Capital Group raised Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. ValuEngine raised Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Bank of America reissued a “hold” rating and set a $212.00 price objective on shares of Goldman Sachs Group in a research note on Monday, April 15th. Finally, HSBC set a $202.00 price objective on Goldman Sachs Group and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $239.91.

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Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

Further Reading: Correction

Dividend History for Goldman Sachs Group (NYSE:GS)

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