Goldman Sachs Group, Inc. (The) Announces Quarterly Dividend of $0.75 (GS)
Goldman Sachs Group, Inc. (The) (NYSE:GS) announced a quarterly dividend on Wednesday, October 18th, Wall Street Journal reports. Stockholders of record on Thursday, November 30th will be given a dividend of 0.75 per share by the investment management company on Thursday, December 28th. This represents a $3.00 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Wednesday, November 29th.
Goldman Sachs Group, Inc. (The) has raised its dividend by an average of 8.2% annually over the last three years and has raised its dividend every year for the last 5 years. Goldman Sachs Group, Inc. (The) has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Goldman Sachs Group, Inc. (The) to earn $20.20 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 14.9%.
Shares of Goldman Sachs Group, Inc. (NYSE GS) opened at 242.03 on Thursday. The stock’s 50 day moving average price is $232.14 and its 200 day moving average price is $225.54. The company has a market cap of $93.96 billion, a P/E ratio of 12.69 and a beta of 1.41. Goldman Sachs Group, Inc. has a 1-year low of $168.45 and a 1-year high of $255.15.
Goldman Sachs Group, Inc. (The) (NYSE:GS) last released its earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.17 by $0.85. The business had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $7.59 billion. Goldman Sachs Group, Inc. (The) had a return on equity of 11.32% and a net margin of 26.42%. Goldman Sachs Group, Inc. (The)’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.88 earnings per share. Equities research analysts forecast that Goldman Sachs Group, Inc. will post $18.37 earnings per share for the current year.
In other news, Director David A. Viniar sold 4,590 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $227.79, for a total transaction of $1,045,556.10. Following the completion of the transaction, the director now directly owns 854,925 shares in the company, valued at $194,743,365.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John F.W. Rogers sold 17,685 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $235.02, for a total transaction of $4,156,328.70. Following the transaction, the executive vice president now owns 80,109 shares of the company’s stock, valued at $18,827,217.18. The disclosure for this sale can be found here. Insiders have sold 25,535 shares of company stock valued at $5,956,868 over the last 90 days. Corporate insiders own 2.57% of the company’s stock.
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A number of research firms recently issued reports on GS. Buckingham Research reaffirmed a “neutral” rating and issued a $250.00 target price (up previously from $243.00) on shares of Goldman Sachs Group, Inc. (The) in a research report on Wednesday. Morgan Stanley lifted their target price on Goldman Sachs Group, Inc. (The) from $265.00 to $287.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets lifted their target price on Goldman Sachs Group, Inc. (The) from $202.00 to $217.00 and gave the company a “market perform” rating in a research report on Wednesday. TheStreet raised Goldman Sachs Group, Inc. (The) from a “c+” rating to a “b” rating in a research report on Friday, October 13th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $250.00 target price (up previously from $225.00) on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $242.96.
Goldman Sachs Group, Inc. (The) Company Profile
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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