Chemung Canal Trust Co. Reduces Position in The Procter & Gamble Company (NYSE:PG)

Chemung Canal Trust Co. reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 57,120 shares of the company’s stock after selling 387 shares during the quarter. Procter & Gamble comprises 2.0% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 13th biggest position. Chemung Canal Trust Co.’s holdings in Procter & Gamble were worth $9,576,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PG. Atlas Private Wealth Advisors raised its position in shares of Procter & Gamble by 1.1% during the 4th quarter. Atlas Private Wealth Advisors now owns 16,612 shares of the company’s stock valued at $2,785,000 after buying an additional 184 shares during the period. Gradient Investments LLC raised its stake in shares of Procter & Gamble by 7.8% in the 4th quarter. Gradient Investments LLC now owns 234,791 shares of the company’s stock valued at $39,363,000 after acquiring an additional 16,921 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Procter & Gamble by 2.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 73,223 shares of the company’s stock worth $12,276,000 after purchasing an additional 1,557 shares during the period. CX Institutional increased its holdings in Procter & Gamble by 113.5% in the 4th quarter. CX Institutional now owns 102,901 shares of the company’s stock valued at $17,251,000 after purchasing an additional 54,699 shares during the last quarter. Finally, Encompass More Asset Management boosted its position in shares of Procter & Gamble by 4.8% during the fourth quarter. Encompass More Asset Management now owns 5,561 shares of the company’s stock worth $932,000 after buying an additional 255 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now directly owns 11,595 shares of the company’s stock, valued at $2,002,804.35. This trade represents a 52.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the transaction, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Down 1.0 %

Shares of NYSE PG opened at $164.41 on Monday. The stock has a market cap of $387.20 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.69 and a beta of 0.45. The Procter & Gamble Company has a 52-week low of $152.06 and a 52-week high of $180.43. The business has a 50-day moving average price of $168.85 and a 200 day moving average price of $169.37. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 32.88%. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21,657,595.49 billion. During the same period last year, the firm posted $1.84 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.45%. Procter & Gamble’s dividend payout ratio (DPR) is 64.17%.

Wall Street Analysts Forecast Growth

PG has been the topic of several research reports. Wells Fargo & Company increased their target price on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Evercore ISI increased their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. UBS Group dropped their price objective on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Morgan Stanley boosted 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 research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.53.

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.