Conning Inc. Lowers Stock Holdings in Procter & Gamble Company (The) (NYSE:PG)

Conning Inc. reduced its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,328 shares of the company's stock after selling 11,096 shares during the quarter. Procter & Gamble makes up approximately 1.3% of Conning Inc.'s portfolio, making the stock its 17th biggest position. Conning Inc.'s holdings in Procter & Gamble were worth $36,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. NewSquare Capital LLC increased its holdings in Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company's stock worth $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC acquired a new position in shares of Procter & Gamble during the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter worth approximately $31,000. Hoey Investments Inc. raised its holdings in Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in Procter & Gamble in the fourth quarter worth approximately $34,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $160.72 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The company has a 50-day simple moving average of $162.10 and a 200-day simple moving average of $165.37. The stock has a market capitalization of $376.82 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 4.59 and a beta of 0.40.

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 for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. The company had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.52 EPS. On average, analysts predict that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a dividend of $1.0568 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.63%. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio is presently 67.14%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer owned 51,965 shares of the company's stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider directly owned 25,182 shares in the company, valued at approximately $3,995,627.94. This trade 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Raymond James Financial reduced their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Citigroup decreased their price target on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a report on Friday, April 25th. Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Evercore ISI reaffirmed an "outperform" rating and issued a $190.00 price target (up from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Eight equities research 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 stock. According to MarketBeat, Procter & Gamble presently has an average rating of "Moderate Buy" and a consensus price target of $178.45.

About Procter & Gamble

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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