The Goldman Sachs Group, Inc. (NYSE:GS) Declares Quarterly Dividend of $5.00

The Goldman Sachs Group, Inc. (NYSE:GS) declared a quarterly dividend on Monday, July 13th. Investors of record on Tuesday, September 1st will be given a dividend of 5.00 per share by the investment management company on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 11.1% increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50.

The Goldman Sachs Group has raised its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 13 consecutive years. The Goldman Sachs Group has a payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Analysts expect The Goldman Sachs Group to earn $67.34 per share next year, which means the company should continue to be able to cover its $18.00 annual dividend with an expected future payout ratio of 26.7%.

The Goldman Sachs Group Price Performance

GS opened at $1,142.58 on Wednesday. The stock’s 50-day moving average price is $1,024.94 and its 200 day moving average price is $941.58. The Goldman Sachs Group has a 12-month low of $691.30 and a 12-month high of $1,143.84. The firm has a market cap of $337.07 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.34 and a beta of 1.30. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 2.89.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The company had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. During the same quarter last year, the company posted $10.91 EPS. The firm’s revenue was up 39.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Goldman Sachs Group will post 60.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GS. UBS Group raised their target price on The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Weiss Ratings raised shares of The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Wells Fargo & Company restated an “overweight” rating and set a $1,325.00 price objective (up from $1,195.00) on shares of The Goldman Sachs Group in a research report on Wednesday. Finally, Bank of America upped their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1,025.62.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.