The Goldman Sachs Group, Inc. (NYSE:GS) Declares Dividend Increase – $5.00 Per Share

The Goldman Sachs Group, Inc. (NYSE:GS) declared a quarterly dividend on Monday, July 13th. Shareholders of record on Tuesday, September 1st will be paid a dividend of 5.00 per share by the investment management company on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date 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 increased its dividend payment by an average of 0.2%per year 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

GS stock opened at $1,142.58 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The business’s fifty day simple moving average is $1,024.94 and its two-hundred day simple moving average is $941.58. The Goldman Sachs Group has a twelve month low of $691.30 and a twelve 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 Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The firm had revenue of $20.34 billion during the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The business’s revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the firm earned $10.91 earnings per share. Analysts predict that The Goldman Sachs Group will post 60.44 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. The trade was a 47.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sheara J. Fredman sold 10,301 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $929.17, for a total value of $9,571,380.17. Following the sale, the chief accounting officer directly owned 6,338 shares in the company, valued at approximately $5,889,079.46. The trade was a 61.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 33,681 shares of company stock worth $31,737,875 over the last quarter. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dagco Inc. acquired a new position in The Goldman Sachs Group during the 4th quarter valued at about $25,000. Turim 21 Investimentos Ltda. purchased a new position in shares of The Goldman Sachs Group in the 1st quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Manning & Napier Advisors LLC boosted its stake in The Goldman Sachs Group by 287.5% in the 4th quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Finally, Steph & Co. purchased a new stake in The Goldman Sachs Group during the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.