The Goldman Sachs Group (NYSE:GS) Trading Up 1.6% – What’s Next?

The Goldman Sachs Group, Inc. (NYSE:GS) shares shot up 1.6% during mid-day trading on Wednesday . The company traded as high as $602.11 and last traded at $601.93. 465,519 shares changed hands during trading, a decline of 79% from the average session volume of 2,223,919 shares. The stock had previously closed at $592.59.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GS. Keefe, Bruyette & Woods boosted their target price on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a report on Tuesday, July 30th. Bank of America lifted their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays lifted their price objective on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $527.63.

The Goldman Sachs Group Trading Up 0.4 %

The company has a fifty day moving average of $511.74 and a 200-day moving average of $485.75. The company has a market capitalization of $186.68 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.86 and a beta of 1.35. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $5.47 earnings per share. As a group, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio is currently 35.21%.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock valued at $6,656,119 over the last 90 days. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds have recently added to or reduced their stakes in the company. POM Investment Strategies LLC acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter worth $26,000. Semmax Financial Advisors Inc. acquired a new position in The Goldman Sachs Group during the second quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter valued at approximately $27,000. SJS Investment Consulting Inc. boosted its stake in shares of The Goldman Sachs Group by 103.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of The Goldman Sachs Group by 6,300.0% in the 2nd quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock worth $29,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds 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.