The Goldman Sachs Group (NYSE:GS) Trading Down 0.5% – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS) shares were down 0.5% on Monday . The stock traded as low as $601.33 and last traded at $602.26. Approximately 375,589 shares were traded during trading, a decline of 83% from the average daily volume of 2,209,346 shares. The stock had previously closed at $605.57.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GS. HSBC lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Bank of America increased their price target on 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. Oppenheimer boosted their price objective on 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. Morgan Stanley increased their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $557.88.

The Goldman Sachs Group Price Performance

The company has a market cap of $189.50 billion, a PE ratio of 17.66, a P/E/G ratio of 0.87 and a beta of 1.38. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a 50-day simple moving average of $545.10 and a 200 day simple moving average of $501.59.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the prior year, the company posted $5.47 earnings per share. The Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts expect that The Goldman Sachs Group, Inc. will post 37.15 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. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 1.99%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,550 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $610.91, for a total value of $4,001,460.50. Following the sale, the chief executive officer now directly owns 117,883 shares in the company, valued at approximately $72,015,903.53. This trade represents a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,940 shares of company stock valued at $13,717,979 over the last quarter. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. POM Investment Strategies LLC acquired a new stake in The Goldman Sachs Group in the second quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new stake in The Goldman Sachs Group during the second quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $27,000. SJS Investment Consulting Inc. increased its stake in The Goldman Sachs Group by 103.3% in the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in The Goldman Sachs Group by 6,300.0% during the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors 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.