The Goldman Sachs Group, Inc. (NYSE:GS) to Issue $2.75 Quarterly Dividend

The Goldman Sachs Group, Inc. (NYSE:GSGet Free Report) announced a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Thursday, May 30th will be paid a dividend of 2.75 per share by the investment management company on Thursday, June 27th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Thursday, May 30th.

The Goldman Sachs Group has raised its dividend payment by an average of 28.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. The Goldman Sachs Group has a payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect The Goldman Sachs Group to earn $39.79 per share next year, which means the company should continue to be able to cover its $11.00 annual dividend with an expected future payout ratio of 27.6%.

The Goldman Sachs Group Stock Up 0.7 %

GS stock opened at $461.18 on Tuesday. The company’s 50 day moving average is $426.69 and its 200 day moving average is $392.12. The stock has a market cap of $148.71 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 0.93 and a beta of 1.40. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $471.48. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 2.18.

The Goldman Sachs Group (NYSE:GSGet Free Report) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The company had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. During the same period in the previous year, the business earned $8.79 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Sell-side analysts predict that The Goldman Sachs Group will post 36.57 EPS for the current fiscal year.

Insider Buying and Selling

In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the sale, the director now directly owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bank of America upped their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company upped their price objective on shares of The Goldman Sachs Group from $450.00 to $504.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Oppenheimer increased their target price on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Keefe, Bruyette & Woods boosted their price target on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Finally, JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $424.00 to $433.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.57.

Check Out Our Latest Stock Report on The Goldman Sachs Group

About The Goldman Sachs Group

(Get Free Report)

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.

Further Reading

Dividend History for The Goldman Sachs Group (NYSE:GS)

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