The Goldman Sachs Group (NYSE:GS) Stock Price Down 0.7% – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS) shares fell 0.7% on Tuesday . The company traded as low as $593.00 and last traded at $598.81. 600,778 shares were traded during mid-day trading, a decline of 73% from the average session volume of 2,215,356 shares. The stock had previously closed at $603.03.

Wall Street Analysts Forecast Growth

GS has been the subject of several recent analyst reports. Bank of America raised their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Hsbc Global Res lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $550.63.

The Goldman Sachs Group Stock Performance

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 market cap of $190.05 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.35. The firm’s 50-day moving average is $536.69 and its two-hundred day moving average is $497.33.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The Goldman Sachs Group’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.47 EPS. As a group, research 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 declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 1.98%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Activity at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total transaction of $3,826,245.76. Following the transaction, the executive vice president now directly owns 57,614 shares of the company’s stock, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,390 shares of company stock valued at $6,656,119. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GS. Semmax Financial Advisors Inc. bought a new position in The Goldman Sachs Group during the second quarter worth $26,000. POM Investment Strategies LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter worth about $26,000. Headlands Technologies LLC bought a new position in shares of The Goldman Sachs Group during the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. lifted its stake in shares of 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 buying an additional 31 shares during the period. Finally, West Branch Capital LLC bought a new stake in shares of The Goldman Sachs Group in the third quarter valued at about $30,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.