The Goldman Sachs Group (NYSE:GS) Shares Up 1.6% - Here's What Happened

The Goldman Sachs Group, Inc. (NYSE:GS - Get Free Report)'s stock price shot up 1.6% during mid-day trading on Friday . The company traded as high as $525.86 and last traded at $525.84. 249,496 shares changed hands during trading, a decline of 89% from the average session volume of 2,185,458 shares. The stock had previously closed at $517.79.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GS shares. Oppenheimer boosted their price objective on The Goldman Sachs Group from $577.00 to $614.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Bank of America upped their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. UBS Group lifted their price objective on shares of 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, Morgan Stanley increased their target price on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group has an average rating of "Moderate Buy" and a consensus price target of $524.69.

The Goldman Sachs Group Trading Up 0.3 %

The company has a market cap of $164.01 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 0.76 and a beta of 1.36. The business has a fifty day simple moving average of $502.45 and a 200 day simple moving average of $477.05. The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The firm had revenue of $12.70 billion during the quarter, compared to analysts' expectations of $11.77 billion. During the same quarter last year, the business earned $5.47 earnings per share. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group's dividend payout ratio is currently 35.21%.

Insider Buying and Selling

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the company's stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now owns 10,095 shares of the company's stock, valued at approximately $5,359,435.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Lindbrook Capital LLC boosted its holdings in shares of The Goldman Sachs Group by 1.4% during the third quarter. Lindbrook Capital LLC now owns 1,682 shares of the investment management company's stock worth $833,000 after purchasing an additional 24 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in The Goldman Sachs Group by 18.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 5,256 shares of the investment management company's stock valued at $2,602,000 after acquiring an additional 811 shares during the last quarter. Shoker Investment Counsel Inc. raised its position in shares of The Goldman Sachs Group by 3.0% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 4,167 shares of the investment management company's stock valued at $2,063,000 after acquiring an additional 123 shares in the last quarter. Galvin Gaustad & Stein LLC raised its stake in The Goldman Sachs Group by 2,877.2% during the third quarter. Galvin Gaustad & Stein LLC now owns 30,159 shares of the investment management company's stock worth $14,932,000 after acquiring an additional 29,146 shares during the period. Finally, CWA Asset Management Group LLC acquired a new position in The Goldman Sachs Group during the 3rd quarter valued at approximately $9,912,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

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.