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 1.25 per share by the investment management company on Monday, December 30th. This represents a $5.00 annualized dividend and a yield of 2.42%.
Goldman Sachs Group has increased its dividend by an average of 7.3% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Goldman Sachs Group has a dividend payout ratio of 20.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Goldman Sachs Group to earn $24.57 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 20.4%.
Goldman Sachs Group stock opened at $206.46 on Wednesday. The company has a 50 day moving average price of $207.04 and a 200-day moving average price of $203.13. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.85 and a current ratio of 0.85. Goldman Sachs Group has a fifty-two week low of $151.70 and a fifty-two week high of $234.06. The company has a market capitalization of $73.60 billion, a PE ratio of 8.17, a P/E/G ratio of 0.77 and a beta of 1.35.
In related news, EVP Dane E. Holmes sold 3,165 shares of Goldman Sachs Group stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $212.15, for a total transaction of $671,454.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.41% of the company’s stock.
Several analysts have recently weighed in on GS shares. Odeon Capital Group downgraded shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. BMO Capital Markets lifted their price target on shares of Goldman Sachs Group to $273.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Royal Bank of Canada set a $220.00 price target on shares of Goldman Sachs Group and gave the company a “neutral” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $240.00 price target on shares of Goldman Sachs Group in a research note on Wednesday, July 17th. Finally, TheStreet raised shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $240.92.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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