The Goldman Sachs Group (NYSE:GS) Stock Price Down 2.5%

The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating)’s share price dropped 2.5% during mid-day trading on Friday . The company traded as low as $338.29 and last traded at $341.82. Approximately 283,759 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 3,519,494 shares. The stock had previously closed at $350.75.

Wall Street Analysts Forecast Growth

GS has been the subject of several recent analyst reports. Oppenheimer reduced their price objective on shares of The Goldman Sachs Group from $512.00 to $492.00 and set an “outperform” rating for the company in a research note on Wednesday, December 28th. StockNews.com began coverage on The Goldman Sachs Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on The Goldman Sachs Group from $370.00 to $345.00 in a research report on Friday, January 6th. BMO Capital Markets lowered their price target on The Goldman Sachs Group from $485.00 to $443.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, UBS Group boosted their price objective on The Goldman Sachs Group from $325.00 to $350.00 and gave the stock a “neutral” rating in a report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $396.83.

The Goldman Sachs Group Trading Down 2.5 %

The firm’s 50-day simple moving average is $362.15 and its 200-day simple moving average is $338.81. The firm has a market capitalization of $115.76 billion, a PE ratio of 9.10 and a beta of 1.41. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 2.21.

The Goldman Sachs Group (NYSE:GS – Get Rating) last issued its earnings results on Tuesday, January 17th. The investment management company reported $3.32 earnings per share for the quarter, missing the consensus estimate of $5.25 by ($1.93). The Goldman Sachs Group had a net margin of 22.50% and a return on equity of 13.23%. The company had revenue of $10.59 billion for the quarter, compared to analysts’ expectations of $10.91 billion. During the same quarter in the prior year, the company earned $10.81 earnings per share. The company’s revenue was down 16.2% compared to the same quarter last year. Equities analysts expect that The Goldman Sachs Group, Inc. will post 31.98 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 2nd will be paid a $2.50 dividend. This represents a $10.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Wednesday, March 1st. The Goldman Sachs Group’s payout ratio is 26.63%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 10,000 shares of the business’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $385.84, for a total transaction of $3,858,400.00. Following the transaction, the insider now owns 13,656 shares in the company, valued at approximately $5,269,031.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO David M. Solomon sold 7,400 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $341.16, for a total transaction of $2,524,584.00. Following the transaction, the chief executive officer now owns 115,019 shares in the company, valued at $39,239,882.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian J. Lee sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $385.84, for a total transaction of $3,858,400.00. Following the completion of the sale, the insider now owns 13,656 shares of the company’s stock, valued at $5,269,031.04. The disclosure for this sale can be found here. Insiders sold 4,847,711 shares of company stock valued at $117,408,700 in the last quarter. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Fairfield Bush & CO. bought a new position in shares of The Goldman Sachs Group during the first quarter valued at $66,000. Candriam Luxembourg S.C.A. lifted its stake in shares of The Goldman Sachs Group by 1,505.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock worth $13,633,000 after buying an additional 38,727 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of The Goldman Sachs Group by 18.5% during the first quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock valued at $39,153,000 after buying an additional 18,540 shares during the last quarter. Zions Bancorporation N.A. increased its position in shares of The Goldman Sachs Group by 79.4% during the first quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock valued at $273,000 after acquiring an additional 366 shares in the last quarter. Finally, Covestor Ltd lifted its position in The Goldman Sachs Group by 118.3% in the 1st quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock valued at $102,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 69.09% of the company’s stock.

The Goldman Sachs Group Company Profile

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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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.