The Goldman Sachs Group (NYSE:GS) Trading Down 0.1% - Here's Why

The Goldman Sachs Group, Inc. (NYSE:GS - Get Free Report)'s stock price dropped 0.1% during mid-day trading on Monday . The stock traded as low as $557.50 and last traded at $565.77. Approximately 445,119 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,365,501 shares. The stock had previously closed at $566.10.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GS shares. 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. Citigroup cut their price objective on shares of The Goldman Sachs Group from $585.00 to $550.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Barclays lowered their price target on The Goldman Sachs Group from $760.00 to $720.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. UBS Group boosted their target price on shares of The Goldman Sachs Group from $610.00 to $640.00 and gave the stock a "neutral" rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $593.40.

The Goldman Sachs Group Stock Up 3.4 %

The stock has a market capitalization of $178.04 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32. The business's 50-day moving average is $536.95 and its two-hundred day moving average is $575.31. 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 Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The investment management company reported $14.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $12.57 by $1.55. The business had revenue of $15.06 billion for the quarter, compared to analysts' expectations of $14.99 billion. The Goldman Sachs Group had a return on equity of 13.30% and a net margin of 11.32%. During the same period last year, the firm earned $11.58 earnings per share. Equities analysts anticipate that The Goldman Sachs Group, Inc. will post 47.12 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, May 30th. The Goldman Sachs Group's dividend payout ratio is currently 27.85%.

Insider Activity at The Goldman Sachs Group

In other news, Director John B. Hess bought 3,904 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, April 15th. The shares were acquired at an average cost of $511.68 per share, with a total value of $1,997,598.72. Following the completion of the transaction, the director now owns 3,904 shares in the company, valued at approximately $1,997,598.72. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company's stock.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake 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 acquiring an additional 7,644 shares in the last quarter. Bank of New Hampshire lifted its position in shares of The Goldman Sachs Group by 8.0% in the 4th quarter. Bank of New Hampshire now owns 243 shares of the investment management company's stock worth $139,000 after acquiring an additional 18 shares during the period. Park National Corp OH bought a new position in The Goldman Sachs Group during the fourth quarter worth about $212,000. Fulton Bank N.A. boosted its position in The Goldman Sachs Group by 22.5% in 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 buying an additional 697 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in shares of The Goldman Sachs Group by 2.3% in 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 buying an additional 45 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.