Signet Financial Management LLC lessened its holdings in Procter & Gamble Co (NYSE:PG) by 4.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,405 shares of the company’s stock after selling 678 shares during the period. Signet Financial Management LLC’s holdings in Procter & Gamble were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in the business. Dai Ichi Life Insurance Company Ltd increased its holdings in Procter & Gamble by 9.6% in the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 544,109 shares of the company’s stock valued at $42,473,000 after buying an additional 47,855 shares during the period. Reilly Herbert Faulkner III grew its holdings in shares of Procter & Gamble by 25.5% in the 2nd quarter. Reilly Herbert Faulkner III now owns 68,994 shares of the company’s stock worth $5,386,000 after purchasing an additional 14,000 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Procter & Gamble by 108.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 273,575 shares of the company’s stock worth $21,355,000 after purchasing an additional 142,076 shares during the last quarter. Chilton Investment Co. LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter worth about $495,000. Finally, Stephens Inc. AR grew its holdings in shares of Procter & Gamble by 8.8% in the 2nd quarter. Stephens Inc. AR now owns 240,652 shares of the company’s stock worth $18,785,000 after purchasing an additional 19,409 shares during the last quarter. 58.78% of the stock is currently owned by hedge funds and other institutional investors.
In other Procter & Gamble news, CEO David S. Taylor sold 16,338 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $94.62, for a total transaction of $1,545,901.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Carolyn M. Tastad sold 700 shares of the stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $93.30, for a total transaction of $65,310.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 502,927 shares of company stock worth $46,437,282. Insiders own 1.84% of the company’s stock.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 19th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. Procter & Gamble had a net margin of 15.10% and a return on equity of 21.20%. The firm had revenue of $16.69 billion for the quarter, compared to analyst estimates of $16.45 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. The company’s revenue was up .2% on a year-over-year basis. Analysts expect that Procter & Gamble Co will post 4.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Friday, October 19th were issued a dividend of $0.7172 per share. This represents a $2.87 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, October 18th. Procter & Gamble’s dividend payout ratio is currently 68.01%.
Several research firms have recently weighed in on PG. Citigroup upped their target price on shares of Procter & Gamble from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Monday, October 22nd. ValuEngine raised shares of Procter & Gamble from a “sell” rating to a “hold” rating in a report on Friday, August 17th. UBS Group upped their target price on shares of Procter & Gamble from $82.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, October 22nd. SunTrust Banks upped their target price on shares of Procter & Gamble to $85.00 and gave the stock a “hold” rating in a report on Monday, October 22nd. Finally, Wells Fargo & Co upped their target price on shares of Procter & Gamble from $78.00 to $84.00 and gave the stock a “market perform” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $88.38.
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About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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