The Goldman Sachs Group, Inc. (GS) to Issue Quarterly Dividend of $4.50 on June 29th

The Goldman Sachs Group, Inc. (NYSE:GS) announced a quarterly dividend on Monday, April 13th. Stockholders of record on Monday, June 1st will be paid a dividend of 4.50 per share by the investment management company on Monday, June 29th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st.

The Goldman Sachs Group has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 13 years. The Goldman Sachs Group has a dividend payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Analysts expect The Goldman Sachs Group to earn $52.07 per share next year, which means the company should continue to be able to cover its $18.00 annual dividend with an expected future payout ratio of 34.6%.

The Goldman Sachs Group Stock Up 2.1%

Shares of NYSE:GS opened at $909.85 on Wednesday. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.66 and a current ratio of 1.10. The Goldman Sachs Group has a 1 year low of $492.69 and a 1 year high of $984.70. The stock has a market capitalization of $268.40 billion, a P/E ratio of 16.63, a PEG ratio of 1.17 and a beta of 1.32. The stock has a 50-day simple moving average of $868.74 and a 200-day simple moving average of $855.93.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 13th. The investment management company reported $17.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.92 by $1.63. The business had revenue of $17.23 billion during the quarter, compared to analysts’ expectations of $16.66 billion. The Goldman Sachs Group had a return on equity of 16.02% and a net margin of 14.13%.The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $14.12 EPS. Equities analysts forecast that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Wall Street Analyst Weigh In

GS has been the topic of several recent research reports. Morgan Stanley reduced their price target on The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. BNP Paribas Exane boosted their price target on The Goldman Sachs Group from $775.00 to $970.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Jefferies Financial Group reduced their price target on The Goldman Sachs Group from $1,125.00 to $1,049.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Barclays upped their target price on The Goldman Sachs Group from $850.00 to $1,048.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, HSBC cut their target price on The Goldman Sachs Group from $802.00 to $729.00 in a research report on Wednesday, April 1st. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $919.48.

The Goldman Sachs Group Company Profile

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.