Conning Inc. Decreases Stake in The Procter & Gamble Company (NYSE:PG)

Conning Inc. trimmed its position in The Procter & Gamble Company (NYSE:PG) by 0.8% in the fourth quarter, Holdings Channel reports. The fund owned 225,424 shares of the company’s stock after selling 1,836 shares during the quarter. Procter & Gamble accounts for 1.3% of Conning Inc.’s portfolio, making the stock its 9th largest holding. Conning Inc.’s holdings in Procter & Gamble were worth $37,792,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the third quarter worth $33,000. Bay Harbor Wealth Management LLC grew its position in shares of Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after buying an additional 243 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at about $46,000. Costello Asset Management INC raised its position in shares of Procter & Gamble by 2,142.9% during the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after acquiring an additional 300 shares during the last quarter. Finally, Mendota Financial Group LLC lifted its stake in shares of Procter & Gamble by 58.0% in the fourth quarter. Mendota Financial Group LLC now owns 376 shares of the company’s stock worth $63,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $167.99 on Friday. The company has a market capitalization of $393.91 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The business has a 50-day simple moving average of $167.53 and a two-hundred day simple moving average of $169.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the prior year, the company posted $1.84 earnings per share. Procter & Gamble’s revenue was up 2.1% compared to the same quarter last year. Research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s payout ratio is currently 64.17%.

Analysts Set New Price Targets

Several research analysts have issued reports on PG shares. DA Davidson restated a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Barclays boosted their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. UBS Group decreased their price target on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, Morgan Stanley raised their target price on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.53.

Insiders Place Their Bets

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total value of $2,210,944.00. Following the completion of the transaction, the insider now owns 11,595 shares in the company, valued at $2,002,804.35. This represents a 52.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 151,097 shares of company stock valued at $25,635,076. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.