The Goldman Sachs Group (NYSE:GS) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $518.25 and traded as high as $576.02. The Goldman Sachs Group shares last traded at $573.55, with a volume of 1,264,797 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays increased their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased their price target on The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. increased their price objective on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Morgan Stanley increased their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Evercore ISI raised their target price on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $559.75.

The Goldman Sachs Group Price Performance

The stock’s fifty day moving average is $573.71 and its 200-day moving average is $518.25. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $180.04 billion, a P/E ratio of 16.83, a PEG ratio of 0.86 and a beta of 1.38.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the business posted $5.47 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.06 earnings per share for the current year.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 2nd were paid a $3.00 dividend. The ex-dividend date was Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.09%. The Goldman Sachs Group’s payout ratio is currently 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, EVP John F.W. Rogers sold 6,416 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $596.36, for a total value of $3,826,245.76. Following the transaction, the executive vice president now owns 57,614 shares in the company, valued at $34,358,685.04. This trade represents a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,940 shares of company stock worth $13,717,979 over the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds have recently bought and sold shares of the company. Mizuho Securities USA LLC grew its holdings in shares of The Goldman Sachs Group by 30,068.9% during the third quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock worth $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. Fisher Asset Management LLC increased its stake in The Goldman Sachs Group by 2.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after buying an additional 161,133 shares during the last quarter. FMR LLC lifted its position in The Goldman Sachs Group by 21.9% during the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock worth $1,435,144,000 after buying an additional 521,054 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of The Goldman Sachs Group by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after buying an additional 77,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after purchasing an additional 68,141 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

The Goldman Sachs Group Company Profile

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.