Confluence Wealth Services Inc. Sells 1,421 Shares of The Procter & Gamble Company (NYSE:PG)

Confluence Wealth Services Inc. trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 3.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 41,338 shares of the company’s stock after selling 1,421 shares during the period. Procter & Gamble makes up about 0.5% of Confluence Wealth Services Inc.’s investment portfolio, making the stock its 25th biggest position. Confluence Wealth Services Inc.’s holdings in Procter & Gamble were worth $7,160,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Procter & Gamble by 0.6% during the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after acquiring an additional 122,190 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Procter & Gamble by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock worth $1,598,510,000 after purchasing an additional 733,440 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Procter & Gamble by 9.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock valued at $999,705,000 after purchasing an additional 545,601 shares during the last quarter. Janus Henderson Group PLC boosted its position in Procter & Gamble by 1.3% in the first quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after buying an additional 79,665 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Procter & Gamble by 3.9% during the second quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock worth $941,066,000 after buying an additional 216,300 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PG shares. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson lifted their price objective on Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Finally, Evercore ISI upped their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Insider Activity

In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the transaction, the chief executive officer now directly owns 21,513 shares in the company, valued at approximately $3,657,210. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Andre Schulten sold 13,041 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the sale, the chief financial officer now owns 37,208 shares of the company’s stock, valued at $6,325,360. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R. Alexandra Keith sold 3,373 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the completion of the transaction, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 389,144 shares of company stock valued at $66,184,385 in the last quarter. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Down 0.0 %

NYSE PG opened at $165.10 on Friday. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The stock has a 50-day simple moving average of $171.62 and a 200 day simple moving average of $167.99. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $388.82 billion, a PE ratio of 28.47, a P/E/G ratio of 3.57 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the prior year, the business posted $1.83 EPS. Procter & Gamble’s revenue was down .6% on a year-over-year basis. Research analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.44%. Procter & Gamble’s dividend payout ratio is 69.48%.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.