Key Points
- Goldman Sachs insider Kathryn Ruemmler sold 14,292 shares on May 6 at an average price of $939.07, totaling about $13.4 million. The sale reduced her ownership by 47.72%.
- Goldman Sachs reported strong quarterly results, with EPS of $17.55 beating analyst expectations of $15.92 and revenue of $17.23 billion topping estimates. Revenue rose 14.4% from a year earlier.
- The company also announced a quarterly dividend of $4.50 per share, payable June 29 to shareholders of record on June 1. That works out to an annualized dividend of $18.00 per share and a 1.9% yield.
The Goldman Sachs Group, Inc. (NYSE:GS - Get Free Report) insider Kathryn Ruemmler sold 14,292 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the sale, the insider owned 15,657 shares in the company, valued at $14,703,018.99. The trade was a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
The Goldman Sachs Group Stock Up 1.2%
GS stock opened at $936.72 on Friday. The company's 50 day moving average price is $870.56 and its 200 day moving average price is $871.13. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.66 and a current ratio of 0.63. The Goldman Sachs Group, Inc. has a fifty-two week low of $565.78 and a fifty-two week high of $984.70. The firm has a market capitalization of $276.34 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.19 and a beta of 1.28.
The Goldman Sachs Group (NYSE:GS - Get Free Report) last released its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share for the quarter, topping analysts' consensus estimates of $15.92 by $1.63. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%. The firm had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. During the same period in the prior year, the firm earned $14.12 earnings per share. The business's quarterly revenue was up 14.4% compared to the same quarter last year. On average, equities research analysts anticipate that The Goldman Sachs Group, Inc. will post 59.53 EPS for the current fiscal year.
The Goldman Sachs Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 1st will be paid a dividend of $4.50 per share. This represents a $18.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, June 1st. The Goldman Sachs Group's dividend payout ratio is presently 32.89%.
Key Stories Impacting The Goldman Sachs Group
Here are the key news stories impacting The Goldman Sachs Group this week:
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Autonomous Res cut their target price on shares of The Goldman Sachs Group from $1,047.00 to $960.00 and set an "outperform" rating on the stock in a research note on Thursday, January 15th. Morgan Stanley cut their target price on shares of The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada restated a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Daiwa Securities Group increased their price target on shares of The Goldman Sachs Group from $891.00 to $930.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of The Goldman Sachs Group in a research note on Monday, April 13th. Nine analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of "Hold" and a consensus target price of $942.24.
Check Out Our Latest Stock Analysis on The Goldman Sachs Group
Hedge Funds Weigh In On The Goldman Sachs Group
Hedge funds have recently added to or reduced their stakes in the stock. Dagco Inc. purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in The Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC increased its stake in The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company's stock valued at $27,000 after purchasing an additional 23 shares during the last quarter. Steph & Co. purchased a new position in The Goldman Sachs Group in the first quarter valued at approximately $27,000. Finally, Corundum Trust Company INC purchased a new position in shares of The Goldman Sachs Group during the third quarter worth approximately $29,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.
The Goldman Sachs Group Company Profile
(
Get Free Report)
The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.
Goldman Sachs' core businesses include investment banking, global markets, asset and wealth management, and consumer banking.
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