Convergence Investment Partners LLC Has $597,000 Position in Procter & Gamble Company (The) (NYSE:PG)

Convergence Investment Partners LLC trimmed its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 67.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,501 shares of the company's stock after selling 7,228 shares during the period. Convergence Investment Partners LLC's holdings in Procter & Gamble were worth $597,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PG. WESPAC Advisors SoCal LLC raised its holdings in Procter & Gamble by 8.2% during the first quarter. WESPAC Advisors SoCal LLC now owns 42,998 shares of the company's stock worth $7,328,000 after purchasing an additional 3,273 shares during the last quarter. City National Bank of Florida MSD raised its position in shares of Procter & Gamble by 11.6% during the 1st quarter. City National Bank of Florida MSD now owns 2,003 shares of the company's stock worth $341,000 after purchasing an additional 208 shares during the last quarter. Advisors Preferred LLC purchased a new stake in Procter & Gamble in the 1st quarter valued at approximately $2,795,000. JPL Wealth Management LLC grew its holdings in Procter & Gamble by 14.5% during the 1st quarter. JPL Wealth Management LLC now owns 1,420 shares of the company's stock valued at $230,000 after buying an additional 180 shares during the last quarter. Finally, Close Asset Management Ltd increased its position in Procter & Gamble by 4.9% during the first quarter. Close Asset Management Ltd now owns 79,164 shares of the company's stock worth $13,492,000 after buying an additional 3,676 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Trading Down 0.3%

Shares of NYSE PG traded down $0.53 during midday trading on Friday, hitting $158.28. The stock had a trading volume of 5,799,883 shares, compared to its average volume of 8,221,545. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a 1-year low of $151.90 and a 1-year high of $180.43. The company has a market capitalization of $371.10 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 4.51 and a beta of 0.40. The company has a fifty day moving average price of $161.12 and a 200 day moving average price of $164.24.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.01. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate 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 was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. On average, analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be given a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is 67.14%.

Analysts Set New Price Targets

A number of analysts recently commented on PG shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $170.00 price objective (down previously from $178.00) on shares of Procter & Gamble in a research note on Friday. Evercore ISI reiterated an "in-line" rating and set a $170.00 price target (down from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. UBS Group reduced their price objective on shares of Procter & Gamble from $186.00 to $180.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a research note on Thursday, May 1st. Finally, Piper Sandler upped their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble presently has an average rating of "Moderate Buy" and an average price target of $176.12.

Insider Buying and Selling

In related news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer owned 51,965 shares of the company's stock, valued at $8,386,111.70. The trade was a 1.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction dated 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 $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

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.