Sompo Asset Management Co. Ltd. Sells 640 Shares of The Procter & Gamble Company (NYSE:PG)

Sompo Asset Management Co. Ltd. cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 12.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,690 shares of the company’s stock after selling 640 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Procter & Gamble were worth $773,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PG. Fairway Wealth LLC bought a new position in shares of Procter & Gamble in the second quarter valued at approximately $29,000. Transcendent Capital Group LLC purchased a new position in Procter & Gamble during the 4th quarter worth $31,000. Ruedi Wealth Management Inc. raised its holdings in shares of Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Procter & Gamble during the second quarter valued at about $34,000. Finally, Vima LLC purchased a new position in Procter & Gamble during the fourth quarter worth about $35,000. Institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Thursday, August 29th. Royal Bank of Canada lifted their price target on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup lifted their target price on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.16.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $174.22 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $177.94. The firm has a market capitalization of $411.18 billion, a P/E ratio of 28.47, a PEG ratio of 3.84 and a beta of 0.41. The business has a fifty day moving average price of $170.21 and a 200-day moving average price of $165.69.

Procter & Gamble (NYSE:PG) last posted its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Insider Buying and Selling at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock valued at $63,829,141 in the last three months. Company insiders own 0.17% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.