Camden National Bank Makes New $288,000 Investment in The Goldman Sachs Group, Inc. (NYSE:GS)

Camden National Bank bought a new position in The Goldman Sachs Group, Inc. (NYSE:GS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 582 shares of the investment management company’s stock, valued at approximately $288,000.

A number of other institutional investors also recently modified their holdings of GS. Procyon Advisors LLC lifted its holdings in The Goldman Sachs Group by 5.5% during the 3rd quarter. Procyon Advisors LLC now owns 830 shares of the investment management company’s stock worth $411,000 after buying an additional 43 shares in the last quarter. Brookstone Capital Management lifted its position in The Goldman Sachs Group by 19.9% during the 3rd quarter. Brookstone Capital Management now owns 4,582 shares of the investment management company’s stock valued at $2,268,000 after purchasing an additional 761 shares during the period. Granite Bay Wealth Management LLC bought a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $5,529,000. Wedge Capital Management L L P NC grew its position in shares of The Goldman Sachs Group by 3.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 100,119 shares of the investment management company’s stock worth $45,286,000 after buying an additional 2,993 shares during the period. Finally, PGGM Investments raised its stake in shares of The Goldman Sachs Group by 341.8% during the first quarter. PGGM Investments now owns 11,527 shares of the investment management company’s stock worth $4,815,000 after buying an additional 8,918 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GS. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price objective on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. JPMorgan Chase & Co. raised their price target on 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. Bank of America upped their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company boosted their target price 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. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.00.

Insider Activity

In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John F.W. Rogers sold 6,416 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 57,614 shares in the company, valued at approximately $34,358,685.04. This represents a 10.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,390 shares of company stock worth $6,656,119 over the last ninety days. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Trading Up 1.1 %

Shares of NYSE:GS opened at $602.75 on Friday. The firm has a market cap of $189.21 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 0.87 and a beta of 1.35. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group, Inc. has a 12 month low of $334.87 and a 12 month high of $607.15. The company’s fifty day simple moving average is $529.52 and its 200 day simple moving average is $493.78.

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 the consensus estimate of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $5.47 EPS. As a group, research analysts forecast that The Goldman Sachs Group, Inc. will post 37.15 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 35.21%.

The Goldman Sachs Group 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.