Confluence Wealth Services Inc. Raises Stock Holdings in Procter & Gamble Company (The) (NYSE:PG)

Confluence Wealth Services Inc. grew its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 5.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,090 shares of the company's stock after buying an additional 2,255 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Procter & Gamble were worth $7,307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PG. Bordeaux Wealth Advisors LLC grew its position in shares of Procter & Gamble by 17.7% during the first quarter. Bordeaux Wealth Advisors LLC now owns 5,716 shares of the company's stock worth $974,000 after purchasing an additional 860 shares in the last quarter. Tsfg LLC grew its position in shares of Procter & Gamble by 4.5% during the first quarter. Tsfg LLC now owns 4,559 shares of the company's stock worth $777,000 after purchasing an additional 197 shares in the last quarter. Kessler Investment Group LLC grew its position in shares of Procter & Gamble by 4,125.0% during the first quarter. Kessler Investment Group LLC now owns 338 shares of the company's stock worth $58,000 after purchasing an additional 330 shares in the last quarter. Sims Investment Management LLC grew its position in shares of Procter & Gamble by 144.7% during the first quarter. Sims Investment Management LLC now owns 1,632 shares of the company's stock worth $278,000 after purchasing an additional 965 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Procter & Gamble by 17.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 313,746 shares of the company's stock worth $52,726,000 after purchasing an additional 46,717 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Evercore ISI reissued an "outperform" rating and set a $190.00 price target (up from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $178.45.

Insider Buying and Selling

In related news, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer now directly owns 51,965 shares of the company's stock, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares of the company's stock, valued at $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Price Performance

NYSE:PG opened at $160.00 on Friday. The firm has a market capitalization of $375.11 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 4.71 and a beta of 0.43. Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The business has a 50 day simple moving average of $162.44 and a 200-day simple moving average of $165.62. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. The business had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company's revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. Equities analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a dividend of $1.0568 per share. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Monday, April 21st. Procter & Gamble's dividend payout ratio (DPR) is currently 67.14%.

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.

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