Cigna Investments Inc. New lifted its stake in shares of Procter & Gamble Co (NYSE:PG) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 74,424 shares of the company’s stock after buying an additional 4,295 shares during the quarter. Procter & Gamble comprises approximately 1.1% of Cigna Investments Inc. New’s investment portfolio, making the stock its 15th largest holding. Cigna Investments Inc. New’s holdings in Procter & Gamble were worth $8,187,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in PG. Orser Capital Management LLC grew its position in shares of Procter & Gamble by 16.6% during the 4th quarter. Orser Capital Management LLC now owns 2,301 shares of the company’s stock worth $286,000 after buying an additional 328 shares during the period. Candriam Luxembourg S.C.A. grew its position in shares of Procter & Gamble by 6.0% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 952,251 shares of the company’s stock worth $118,936,000 after buying an additional 54,013 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $236,000. S.E.E.D. Planning Group LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $234,000. Finally, Harbour Capital Advisors LLC grew its position in shares of Procter & Gamble by 34.9% during the 4th quarter. Harbour Capital Advisors LLC now owns 12,290 shares of the company’s stock worth $1,535,000 after buying an additional 3,181 shares during the period. 62.39% of the stock is owned by institutional investors.
In other news, Director Nelson Peltz sold 404,714 shares of Procter & Gamble stock in a transaction on Friday, May 15th. The stock was sold at an average price of $113.01, for a total transaction of $45,736,729.14. Following the sale, the director now directly owns 3,891 shares in the company, valued at approximately $439,721.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R. Alexandra Keith sold 7,360 shares of Procter & Gamble stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $120.00, for a total value of $883,200.00. Following the sale, the chief executive officer now owns 44,746 shares in the company, valued at $5,369,520. The disclosure for this sale can be found here. Insiders have sold a total of 8,802,488 shares of company stock worth $1,048,532,939 over the last quarter. Company insiders own 1.75% of the company’s stock.
Several analysts have recently commented on PG shares. Stifel Nicolaus raised their price objective on shares of Procter & Gamble from $117.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Berenberg Bank reissued a “hold” rating and issued a $130.00 price target on shares of Procter & Gamble in a research report on Friday, January 24th. Bank of America reissued a “buy” rating and issued a $135.00 price target on shares of Procter & Gamble in a research report on Saturday, April 18th. Deutsche Bank lifted their price target on shares of Procter & Gamble from $130.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley lifted their price target on shares of Procter & Gamble from $125.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Procter & Gamble has an average rating of “Buy” and an average target price of $130.31.
PG traded up $0.98 during mid-day trading on Friday, reaching $112.60. 5,484,270 shares of the stock were exchanged, compared to its average volume of 8,533,092. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 0.83. The stock has a market capitalization of $276.33 billion, a PE ratio of 63.62, a price-to-earnings-growth ratio of 3.14 and a beta of 0.44. The company has a 50 day moving average price of $116.52 and a two-hundred day moving average price of $120.19. Procter & Gamble Co has a 1 year low of $94.34 and a 1 year high of $128.09.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, April 17th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.04. The firm had revenue of $17.21 billion for the quarter, compared to the consensus estimate of $17.29 billion. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 EPS. Sell-side analysts expect that Procter & Gamble Co will post 4.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were paid a dividend of $0.7907 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.75. The ex-dividend date was Thursday, April 23rd. Procter & Gamble’s payout ratio is presently 69.91%.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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