Confluence Investment Management LLC Sells 1,696 Shares of The Procter & Gamble Company (NYSE:PG)

Confluence Investment Management LLC lessened its stake in The Procter & Gamble Company (NYSE:PG) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 140,980 shares of the company’s stock after selling 1,696 shares during the quarter. Confluence Investment Management LLC’s holdings in Procter & Gamble were worth $23,635,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PG. Geode Capital Management LLC lifted its position in shares of Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares during the last quarter. FMR LLC lifted its holdings in Procter & Gamble by 2.7% during the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after purchasing an additional 689,282 shares during the last quarter. Legal & General Group Plc boosted its position in Procter & Gamble by 0.6% during the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after purchasing an additional 122,190 shares during the period. Franklin Resources Inc. increased its stake in shares of Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after purchasing an additional 1,760,214 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Procter & Gamble by 4.7% in the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after purchasing an additional 830,476 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at $2,343,110. The trade was a 12.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,439 shares of company stock worth $13,317,460. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

PG has been the subject of a number of recent research reports. DA Davidson reiterated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research note on Friday, December 27th. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a report on Monday, September 30th. Piper Sandler initiated coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock traded down $1.10 during trading on Thursday, hitting $166.55. 932,281 shares of the stock traded hands, compared to its average volume of 6,696,123. The stock has a market cap of $392.23 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.70 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 52 week low of $146.28 and a 52 week high of $180.43. The firm’s fifty day moving average is $170.34 and its 200-day moving average is $169.87.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.83 earnings per share. Research analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.42%. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.31%.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.