The Goldman Sachs Group, Inc. (NYSE:GS) to Issue Quarterly Dividend of $3.00

The Goldman Sachs Group, Inc. (NYSE:GS) announced a quarterly dividend on Tuesday, October 15th, RTT News reports. Shareholders of record on Monday, December 2nd will be paid a dividend of 3.00 per share by the investment management company on Monday, December 30th. This represents a $12.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, December 2nd.

The Goldman Sachs Group has increased its dividend payment by an average of 28.1% annually over the last three years and has increased its dividend every year for the last 13 years. The Goldman Sachs Group has a dividend payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect The Goldman Sachs Group to earn $41.28 per share next year, which means the company should continue to be able to cover its $12.00 annual dividend with an expected future payout ratio of 29.1%.

The Goldman Sachs Group Trading Up 1.4 %

The Goldman Sachs Group stock opened at $529.86 on Thursday. The firm has a 50-day moving average price of $496.53 and a two-hundred day moving average price of $467.83. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $540.51. The firm has a market capitalization of $170.86 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 0.77 and a beta of 1.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $5.47 earnings per share. Sell-side analysts expect that The Goldman Sachs Group will post 35.52 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday. Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. BMO Capital Markets increased their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Evercore ISI raised their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Citigroup boosted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

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.