The Goldman Sachs Group (NYSE:GS) Shares Down 1% – Here’s Why

The Goldman Sachs Group, Inc. (NYSE:GS) shares dropped 1% on Tuesday . The stock traded as low as $595.42 and last traded at $596.07. Approximately 437,477 shares traded hands during trading, a decline of 80% from the average daily volume of 2,223,020 shares. The stock had previously closed at $602.34.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group increased their price target on The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their price target on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $527.63.

The Goldman Sachs Group Stock Down 1.6 %

The company has a 50-day moving average of $509.63 and a two-hundred day moving average of $484.59. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.72. The company has a market capitalization of $186.03 billion, a PE ratio of 17.39, a P/E/G ratio of 0.86 and a beta of 1.35.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The firm 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 company’s revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $5.47 EPS. Sell-side 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 business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Activity

In related news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Sheara J. Fredman sold 2,974 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 8,489 shares in the company, valued at approximately $5,046,795.39. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John F.W. Rogers sold 6,416 shares of The Goldman Sachs Group 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 $34,358,685.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,390 shares of company stock worth $6,656,119 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several institutional investors have recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its holdings in shares of The Goldman Sachs Group by 30,068.9% in the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after purchasing an additional 7,475,140 shares during the last quarter. Legal & General Group Plc grew its stake in The Goldman Sachs Group by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after acquiring an additional 77,700 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of The Goldman Sachs Group by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after acquiring an additional 68,141 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of The Goldman Sachs Group by 0.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 998,136 shares of the investment management company’s stock valued at $494,187,000 after acquiring an additional 4,007 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of The Goldman Sachs Group by 34.8% in the second quarter. Canada Pension Plan Investment Board now owns 843,646 shares of the investment management company’s stock valued at $381,598,000 after purchasing an additional 217,954 shares during the period. 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.