Ledyard National Bank Purchases Shares of 470 The Goldman Sachs Group, Inc. (NYSE:GS)

Ledyard National Bank purchased a new stake in shares of The Goldman Sachs Group, Inc. (NYSE:GS) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 470 shares of the investment management company’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Waldron Private Wealth LLC grew its position in The Goldman Sachs Group by 0.8% during the second quarter. Waldron Private Wealth LLC now owns 2,399 shares of the investment management company’s stock valued at $1,085,000 after acquiring an additional 20 shares during the last quarter. First Pacific Financial grew its position in The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after acquiring an additional 20 shares during the last quarter. M3 Advisory Group LLC grew its position in The Goldman Sachs Group by 3.9% during the third quarter. M3 Advisory Group LLC now owns 564 shares of the investment management company’s stock valued at $279,000 after acquiring an additional 21 shares during the last quarter. Fulton Bank N.A. grew its position in The Goldman Sachs Group by 0.8% during the second quarter. Fulton Bank N.A. now owns 2,727 shares of the investment management company’s stock valued at $1,233,000 after acquiring an additional 22 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. grew its holdings in shares of The Goldman Sachs Group by 1.1% in the second quarter. Nicholas Hoffman & Company LLC. now owns 1,975 shares of the investment management company’s stock worth $893,000 after purchasing an additional 22 shares during the last quarter. 71.21% of the stock is currently owned by institutional investors.

The Goldman Sachs Group Price Performance

GS opened at $518.30 on Wednesday. The stock has a 50-day moving average price of $499.33 and a 200-day moving average price of $471.42. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $167.13 billion, a PE ratio of 20.24, a P/E/G ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group, Inc. has a 1 year low of $289.36 and a 1 year high of $540.51.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $1.51. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The Goldman Sachs Group’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.47 EPS. Sell-side analysts predict that The Goldman Sachs Group, Inc. will post 35.52 earnings per share for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a yield of 2.32%. The Goldman Sachs Group’s dividend payout ratio is presently 46.86%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GS shares. Morgan Stanley raised 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 report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America raised their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays raised their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $500.00 price target on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

Insider Buying and Selling

In other news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by insiders.

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.