Convergence Investment Partners LLC Sells 328 Shares of The Procter & Gamble Company (NYSE:PG)

Convergence Investment Partners LLC reduced its stake in The Procter & Gamble Company (NYSE:PG) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,729 shares of the company’s stock after selling 328 shares during the period. Convergence Investment Partners LLC’s holdings in Procter & Gamble were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the third quarter valued at approximately $33,000. Bay Harbor Wealth Management LLC lifted its stake in Procter & Gamble by 972.0% during the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after purchasing an additional 243 shares during the last quarter. New Wave Wealth Advisors LLC bought a new stake in Procter & Gamble during the fourth quarter worth $46,000. Costello Asset Management INC lifted its stake in 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 purchasing an additional 300 shares during the last quarter. Finally, DecisionPoint Financial LLC lifted its stake in Procter & Gamble by 46.7% during the fourth quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock worth $55,000 after purchasing an additional 105 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $172.73, for a total value of $2,210,944.00. Following the transaction, the insider now owns 11,595 shares of the company’s stock, valued at approximately $2,002,804.35. This trade represents a 52.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction dated 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 approximately $7,189,463.68. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 151,097 shares of company stock valued at $25,635,076. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Stock Performance

Shares of PG opened at $165.34 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The stock has a 50-day moving average of $166.21 and a 200-day moving average of $169.46. The company has a market cap of $387.70 billion, a PE ratio of 26.33, a P/E/G ratio of 3.66 and a beta of 0.45. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.84 EPS. On average, equities research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.43%. Procter & Gamble’s payout ratio is 64.17%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PG. Barclays upped their target price on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. UBS Group dropped their price target on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. DA Davidson reiterated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $180.53.

Procter & Gamble Company 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.