Goldman Sachs Group, Inc. (The) (GS) Plans Quarterly Dividend of $0.75
Goldman Sachs Group, Inc. (The) (NYSE:GS) announced a quarterly dividend on Wednesday, October 18th, Wall Street Journal reports. Investors of record on Thursday, November 30th will be paid 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 yield of 1.24%. The ex-dividend date of this dividend 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 $20.00 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 15.0%.
Shares of Goldman Sachs Group, Inc. (NYSE:GS) traded up 2.52% during midday trading on Wednesday, reaching $242.03. The company had a trading volume of 4,235,069 shares. The stock has a 50-day moving average of $230.72 and a 200 day moving average of $225.29. The firm has a market capitalization of $93.96 billion, a price-to-earnings ratio of 12.69 and a beta of 1.41. Goldman Sachs Group, Inc. has a 52 week low of $168.45 and a 52 week high of $255.15.
Goldman Sachs Group, Inc. (The) (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group, Inc. (The) had a return on equity of 11.27% and a net margin of 26.44%. The company had revenue of $8.33 billion for the quarter, compared to analysts’ expectations of $7.59 billion. During the same period in the previous year, the firm posted $4.88 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts anticipate that Goldman Sachs Group, Inc. will post $18.37 earnings per share for the current year.
In other Goldman Sachs Group, Inc. (The) news, 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 completion of the sale, the executive vice president now owns 80,109 shares in the company, valued at $18,827,217.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Viniar sold 4,590 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $227.79, for a total value of $1,045,556.10. Following the sale, the director now owns 854,925 shares of the company’s stock, valued at approximately $194,743,365.75. The disclosure for this sale can be found here. Insiders sold 25,535 shares of company stock valued at $5,956,868 in the last quarter. 2.57% of the stock is owned by company insiders.
Several equities research analysts have weighed in on the company. Buckingham Research reissued a “neutral” rating and set a $250.00 price objective (up from $243.00) on shares of Goldman Sachs Group, Inc. (The) in a research note on Wednesday. Morgan Stanley boosted their price objective on Goldman Sachs Group, Inc. (The) from $265.00 to $287.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets boosted their price objective on Goldman Sachs Group, Inc. (The) from $202.00 to $217.00 and gave the stock a “market perform” rating in a research note on Wednesday. TheStreet raised Goldman Sachs Group, Inc. (The) from a “c+” rating to a “b” rating in a research note on Friday, October 13th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $250.00 price objective (up from $225.00) on shares of Goldman Sachs Group, Inc. (The) in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $242.96.
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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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