Insider Selling: The Goldman Sachs Group, Inc. (NYSE:GS) CEO Sells $4,001,460.50 in Stock

The Goldman Sachs Group, Inc. (NYSE:GS) CEO David M. Solomon sold 6,550 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the sale, the chief executive officer now directly owns 117,883 shares in the company, valued at $72,015,903.53. This trade represents a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

The Goldman Sachs Group Trading Down 0.3 %

Shares of GS stock opened at $597.21 on Friday. The stock has a 50 day simple moving average of $549.26 and a 200 day simple moving average of $502.93. The stock has a market cap of $187.47 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 1 year low of $341.60 and a 1 year high of $612.73.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.39%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the prior year, the firm posted $5.47 EPS. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that The Goldman Sachs Group, Inc. will post 37.15 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business 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 dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 35.21%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Evercore ISI raised their price objective 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. Morgan Stanley boosted their price target on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods raised their price target on The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, UBS Group boosted their price objective on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $557.88.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mizuho Securities USA LLC increased its position in The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after purchasing an additional 7,475,140 shares during the period. FMR LLC raised its holdings in shares of The Goldman Sachs Group by 21.9% during the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after purchasing an additional 521,054 shares during the period. 1832 Asset Management L.P. boosted its holdings in The Goldman Sachs Group by 7,932.6% in the second quarter. 1832 Asset Management L.P. now owns 444,285 shares of the investment management company’s stock worth $200,959,000 after acquiring an additional 438,754 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of The Goldman Sachs Group by 878.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 397,082 shares of the investment management company’s stock worth $179,608,000 after purchasing an additional 356,512 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of The Goldman Sachs Group by 154.7% in the third quarter. Janus Henderson Group PLC now owns 414,867 shares of the investment management company’s stock valued at $205,403,000 after buying an additional 251,972 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.