The Goldman Sachs Group (NYSE:GS) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GS. JPMorgan Chase & Co. raised 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 research report on Friday, December 6th. JMP Securities increased their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Bank of America lifted 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. Citigroup increased their price target on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a research report on Thursday, November 21st. Finally, UBS Group upped their price target on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $559.75.

The Goldman Sachs Group Price Performance

The firm has a market capitalization of $180.04 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.86 and a beta of 1.38. The business’s fifty day simple moving average is $573.71 and its 200 day simple 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 Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same quarter in the previous year, the business earned $5.47 EPS. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.06 EPS for the current year.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 2nd were issued a dividend of $3.00 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 35.21%.

Insider Buying and Selling

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of The Goldman Sachs Group stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. The trade was a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the transaction, the insider now owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,940 shares of company stock valued at $13,717,979. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds have recently made changes to their positions in GS. Principal Financial Group Inc. grew its position in shares of The Goldman Sachs Group by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 364,276 shares of the investment management company’s stock worth $180,357,000 after buying an additional 7,644 shares during the last quarter. DGS Capital Management LLC grew its stake in shares of The Goldman Sachs Group by 18.7% in the third quarter. DGS Capital Management LLC now owns 877 shares of the investment management company’s stock worth $434,000 after acquiring an additional 138 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of The Goldman Sachs Group during the third quarter valued at $233,000. Copley Financial Group Inc. bought a new stake in The Goldman Sachs Group during the 3rd quarter valued at about $635,000. Finally, Oddo BHF Asset Management Sas bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter worth $2,161,000. 71.21% of the stock is currently owned by institutional investors.

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.