The Goldman Sachs Group (NYSE:GS) Trading 0.3% Higher - Here's Why

The Goldman Sachs Group, Inc. (NYSE:GS - Get Free Report)'s stock price traded up 0.3% during trading on Friday . The company traded as high as $572.09 and last traded at $567.47. 400,893 shares traded hands during trading, a decline of 83% from the average session volume of 2,368,139 shares. The stock had previously closed at $565.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GS. Royal Bank of Canada decreased their price target on The Goldman Sachs Group from $610.00 to $560.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 15th. UBS Group boosted their target price on The Goldman Sachs Group from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Tuesday, January 21st. Citigroup cut their price target on The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Oppenheimer lowered shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 19th. Finally, Daiwa Capital Markets cut shares of The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective for the company. in a report on Friday, April 4th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $593.40.

The Goldman Sachs Group Stock Performance

The company has a market capitalization of $174.07 billion, a P/E ratio of 13.99, a PEG ratio of 0.89 and a beta of 1.32. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company's 50-day moving average is $536.18 and its two-hundred day moving average is $575.65.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The investment management company reported $14.12 earnings per share for the quarter, beating analysts' consensus estimates of $12.57 by $1.55. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. The business had revenue of $15.06 billion for the quarter, compared to the consensus estimate of $14.99 billion. During the same quarter last year, the business posted $11.58 earnings per share. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio (DPR) is currently 27.85%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director John B. Hess purchased 3,904 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was acquired at an average cost of $511.68 per share, for a total transaction of $1,997,598.72. Following the purchase, the director now directly owns 3,904 shares in the company, valued at $1,997,598.72. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company's stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. grew its holdings in The Goldman Sachs Group by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 364,276 shares of the investment management company's stock valued at $180,357,000 after buying an additional 7,644 shares in the last quarter. Park National Corp OH purchased a new position in shares of The Goldman Sachs Group in the fourth quarter valued at $212,000. Fulton Bank N.A. raised its stake in The Goldman Sachs Group by 22.5% during the fourth quarter. Fulton Bank N.A. now owns 3,798 shares of the investment management company's stock valued at $2,175,000 after purchasing an additional 697 shares in the last quarter. Fortitude Family Office LLC lifted its position in The Goldman Sachs Group by 2.3% during the fourth quarter. Fortitude Family Office LLC now owns 1,964 shares of the investment management company's stock valued at $1,124,000 after purchasing an additional 45 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its holdings in shares of The Goldman Sachs Group by 8.1% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 38,304 shares of the investment management company's stock valued at $21,934,000 after acquiring an additional 2,863 shares during the last quarter. 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, 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.

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