The Goldman Sachs Group, Inc. Announces Quarterly Dividend of $3.00 (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) declared a quarterly dividend on Tuesday, October 15th, RTT News reports. Stockholders of record on Monday, December 2nd will be given a dividend of 3.00 per share by the investment management company on Monday, December 30th. This represents a $12.00 annualized dividend and a dividend yield of 2.30%.

The Goldman Sachs Group has raised its dividend by an average of 28.1% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. The Goldman Sachs Group has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect The Goldman Sachs Group to earn $41.28 per share next year, which means the company should continue to be able to cover its $12.00 annual dividend with an expected future payout ratio of 29.1%.

The Goldman Sachs Group Trading Down 0.0 %

NYSE GS opened at $522.60 on Wednesday. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $540.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s 50 day moving average price is $495.39 and its two-hundred day moving average price is $467.39. The stock has a market capitalization of $168.52 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $7.87 by $0.53. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. During the same quarter in the prior year, the company posted $5.47 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, analysts anticipate that The Goldman Sachs Group will post 35.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays increased their price target on The Goldman Sachs Group from $493.00 to $565.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their price target on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. UBS Group upped their price objective on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research note on Wednesday, September 18th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $504.75.

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.