The Goldman Sachs Group (NYSE:GS) Trading Down 0.7% – Here’s Why

The Goldman Sachs Group, Inc. (NYSE:GS)’s share price was down 0.7% on Tuesday . The stock traded as low as $593.00 and last traded at $598.81. Approximately 600,778 shares changed hands during trading, a decline of 73% from the average daily volume of 2,215,356 shares. The stock had previously closed at $603.03.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GS shares. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. JMP Securities lifted their price objective on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. UBS Group increased their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Barclays upped their price target on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, HSBC lowered shares of The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their price objective for the stock from $569.00 to $608.00 in a report on Tuesday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average target price of $550.63.

The Goldman Sachs Group Trading Down 0.0 %

The firm has a market cap of $190.05 billion, a P/E ratio of 17.76, a P/E/G ratio of 0.88 and a beta of 1.35. The firm has a fifty day moving average of $536.69 and a 200-day moving average of $497.33. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The company had revenue of $12.70 billion during 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 for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.47 earnings per share. Equities research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 1.98%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Insider Transactions at The Goldman Sachs Group

In other news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value 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 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at approximately $5,046,795.39. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,390 shares of company stock worth $6,656,119. Company insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mizuho Securities USA LLC grew its holdings in The Goldman Sachs Group by 30,068.9% during 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 acquiring an additional 7,475,140 shares during the period. Fisher Asset Management LLC grew its stake in shares of The Goldman Sachs Group by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock worth $2,991,772,000 after purchasing an additional 161,133 shares during the last quarter. FMR LLC raised its holdings in shares of The Goldman Sachs Group by 21.9% in the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after purchasing an additional 521,054 shares in the last quarter. Legal & General Group Plc lifted its stake in The Goldman Sachs Group by 2.9% during the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock valued at $1,257,602,000 after purchasing an additional 77,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in The Goldman Sachs Group by 3.3% in 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 buying an additional 68,141 shares during the last quarter. Institutional investors own 71.21% of the company’s stock.

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.