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

Confluence Investment Management LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund 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 added to or reduced their stakes in PG. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble during the second quarter valued at about $28,000. Fairway Wealth LLC bought a new stake in Procter & Gamble during the 2nd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Procter & Gamble during the 3rd quarter worth approximately $33,000. Quest Partners LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at approximately $36,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $44,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

Shares of PG traded down $1.10 during mid-day trading on Thursday, hitting $166.55. 932,281 shares of the company traded hands, compared to its average volume of 6,696,123. The Procter & Gamble Company has a 1 year low of $146.28 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The stock has a 50-day moving average price of $170.34 and a two-hundred day moving average price of $169.87. The stock has a market cap of $392.23 billion, a price-to-earnings ratio of 28.72, a P/E/G ratio of 3.70 and a beta of 0.44.

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

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend 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 is currently 69.31%.

Analyst Ratings Changes

A number of research firms have issued reports on PG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. JPMorgan Chase & Co. lifted their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. DA Davidson reiterated a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a report on Friday, December 27th. Finally, Piper Sandler assumed coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $180.45.

Insider Activity

In related news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total transaction of $338,640.00. Following the sale, the chief executive officer now owns 13,783 shares in the company, valued at approximately $2,343,110. The trade was a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,439 shares of company stock valued at $13,317,460 in the last quarter. 0.18% of the stock is currently owned by insiders.

Procter & Gamble 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.