The Goldman Sachs Group (NYSE:GS) Stock Price Down 0% – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS) shares dropped 0% on Friday . The stock traded as low as $587.09 and last traded at $588.39. Approximately 472,749 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 2,219,382 shares. The stock had previously closed at $588.61.

Analyst Upgrades and Downgrades

GS has been the subject of a number of research reports. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $500.00 target price on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Wolfe Research upgraded shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $535.75.

The Goldman Sachs Group Stock Performance

The stock has a market cap of $186.10 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $515.82 and its two-hundred day simple moving average is $487.22.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51. The business 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 11.39% and a net margin of 9.89%. The Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.47 EPS. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current year.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.02%. The Goldman Sachs Group’s dividend payout ratio is presently 35.21%.

Insider Transactions at The Goldman Sachs Group

In related news, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock worth $6,656,119 in the last ninety days. Insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Prana Capital Management LP increased its stake in shares of The Goldman Sachs Group by 297.2% in the third quarter. Prana Capital Management LP now owns 203,628 shares of the investment management company’s stock valued at $100,818,000 after buying an additional 152,357 shares during the period. Mission Creek Capital Partners Inc. raised its stake in shares of The Goldman Sachs Group by 1.5% during the third quarter. Mission Creek Capital Partners Inc. now owns 6,910 shares of the investment management company’s stock valued at $3,421,000 after acquiring an additional 100 shares during the last quarter. Morse Asset Management Inc acquired a new position in shares of The Goldman Sachs Group during the third quarter worth $911,000. IHT Wealth Management LLC grew its stake in shares of The Goldman Sachs Group by 22.3% in the third quarter. IHT Wealth Management LLC now owns 8,260 shares of the investment management company’s stock worth $4,082,000 after purchasing an additional 1,506 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in The Goldman Sachs Group by 29.8% in the third quarter. Integrated Wealth Concepts LLC now owns 14,874 shares of the investment management company’s stock valued at $7,364,000 after purchasing an additional 3,411 shares during the period. 71.21% of the stock is currently owned by institutional investors.

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.