The Goldman Sachs Group (NYSE:GS) Stock Price Down 4%

The Goldman Sachs Group, Inc. (NYSE:GS)’s share price was down 4% during mid-day trading on Monday . The stock traded as low as $437.37 and last traded at $451.85. Approximately 1,617,291 shares were traded during trading, a decline of 31% from the average daily volume of 2,345,626 shares. The stock had previously closed at $470.64.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GS shares. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $500.00 price target on shares of The Goldman Sachs Group in a research report on Tuesday, July 30th. Oppenheimer lifted their price objective on shares of The Goldman Sachs Group from $504.00 to $559.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Citigroup lifted their price target on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Seaport Res Ptn lowered shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $495.94.

The Goldman Sachs Group Price Performance

The company has a market capitalization of $152.53 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. The company has a 50-day moving average price of $469.46 and a 200-day moving average price of $430.32. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.74 and a current ratio of 1.12.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, July 15th. The investment management company reported $8.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.52 by $0.10. The Goldman Sachs Group had a return on equity of 10.26% and a net margin of 9.36%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.60 billion. On average, equities research analysts expect that The Goldman Sachs Group, Inc. will post 36.74 EPS for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $3.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, August 30th. The Goldman Sachs Group’s dividend payout ratio is 46.86%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the transaction, the insider now directly owns 12,095 shares in the company, valued at $6,119,949.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Goldman Sachs Group news, insider Brian J. Lee sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $505.99, for a total value of $1,770,965.00. Following the completion of the sale, the insider now owns 12,095 shares of the company’s stock, valued at $6,119,949.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas K. Montag sold 10,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $505.04, for a total value of $5,050,400.00. Following the transaction, the director now directly owns 12,450 shares in the company, valued at approximately $6,287,748. The disclosure for this sale can be found here. Insiders sold a total of 4,013,500 shares of company stock worth $32,181,365 in the last ninety days. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GS. Waldron Private Wealth LLC increased its position in The Goldman Sachs Group by 0.8% during the 2nd quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after buying an additional 20 shares in the last quarter. Fulton Bank N.A. lifted its stake in shares of The Goldman Sachs Group by 0.8% during the 2nd quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock valued at $1,233,000 after buying an additional 22 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in The Goldman Sachs Group by 1.1% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock worth $893,000 after purchasing an additional 22 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in The Goldman Sachs Group by 1.5% in the 1st quarter. Jacobi Capital Management LLC now owns 1,564 shares of the investment management company’s stock worth $653,000 after purchasing an additional 23 shares in the last quarter. Finally, Mayflower Financial Advisors LLC increased its holdings in shares of The Goldman Sachs Group by 1.2% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 2,019 shares of the investment management company’s stock worth $913,000 after buying an additional 23 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

About The Goldman Sachs Group

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.