Goldman Sachs Group Inc (GS) Plans Quarterly Dividend of $0.75

Goldman Sachs Group Inc (NYSE:GS) declared a quarterly dividend on Friday, January 19th, Wall Street Journal reports. Investors of record on Thursday, March 1st will be paid a dividend of 0.75 per share by the investment management company on Thursday, March 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Wednesday, February 28th.

Goldman Sachs Group has increased its dividend by an average of 8.8% annually over the last three years and has increased its dividend every year for the last 6 years. Goldman Sachs Group has a dividend payout ratio of 15.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Goldman Sachs Group to earn $24.18 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 12.4%.

Shares of Goldman Sachs Group (NYSE GS) traded up $5.15 during trading on Friday, hitting $256.12. 4,639,023 shares of the company traded hands, compared to its average volume of 3,605,721. The stock has a market cap of $96,610.00, a price-to-earnings ratio of 29.54, a P/E/G ratio of 0.91 and a beta of 1.47. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.82. Goldman Sachs Group has a 52-week low of $209.62 and a 52-week high of $262.14.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Wednesday, January 17th. The investment management company reported $5.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.90 by $0.78. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.64 billion. Goldman Sachs Group had a net margin of 13.36% and a return on equity of 11.47%. Goldman Sachs Group’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $5.08 EPS. analysts anticipate that Goldman Sachs Group will post 21.4 EPS for the current year.

GS has been the topic of several research reports. TheStreet upgraded shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a report on Friday, October 13th. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $271.00 price target on the stock in a report on Friday, October 20th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Goldman Sachs Group in a report on Monday, November 20th. Bank of America increased their price target on shares of Goldman Sachs Group from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. Finally, Vertical Group upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Friday, December 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $254.67.

In related news, insider David M. Solomon sold 2,400 shares of Goldman Sachs Group stock in a transaction on Monday, November 13th. The shares were sold at an average price of $238.49, for a total value of $572,376.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David M. Solomon sold 12,707 shares of Goldman Sachs Group stock in a transaction on Friday, November 24th. The shares were sold at an average price of $237.94, for a total transaction of $3,023,503.58. The disclosure for this sale can be found here. Insiders have sold a total of 97,833 shares of company stock worth $23,309,552 in the last ninety days. Corporate insiders own 2.57% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was first published by American Banking News and is the property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/01/19/goldman-sachs-group-inc-gs-plans-quarterly-dividend-of-0-75.html.

About Goldman Sachs Group

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.

Dividend History for Goldman Sachs Group (NYSE:GS)

Receive News & Ratings for Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply