Riggs Asset Managment Co. Inc. Cuts Position in The Procter & Gamble Company (NYSE:PG)

Riggs Asset Managment Co. Inc. reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,392 shares of the company’s stock after selling 61 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Procter & Gamble were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PG. Concurrent Investment Advisors LLC boosted its position in shares of Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Copley Financial Group Inc. acquired a new stake in Procter & Gamble in the third quarter worth about $668,000. Fortem Financial Group LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter worth about $569,000. Nordea Investment Management AB increased its holdings in shares of Procter & Gamble by 7.5% during the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock valued at $484,583,000 after acquiring an additional 201,695 shares in the last quarter. Finally, Synovus Financial Corp raised its position in shares of Procter & Gamble by 3.4% in the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock valued at $32,065,000 after purchasing an additional 6,077 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Insider Activity

In other news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total value of $2,210,944.00. Following the sale, the insider now directly owns 11,595 shares of the company’s stock, valued at $2,002,804.35. The trade was a 52.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,097 shares of company stock worth $25,635,076 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PG. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus boosted their price objective on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Evercore ISI raised their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Barclays boosted their price target on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.53.

Procter & Gamble Trading Down 0.9 %

Shares of Procter & Gamble stock opened at $165.98 on Monday. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company has a market cap of $389.20 billion, a P/E ratio of 26.43, a price-to-earnings-growth ratio of 3.73 and a beta of 0.45. The firm has a 50-day simple moving average of $168.34 and a two-hundred day simple moving average of $169.41.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.84 earnings per share. As a group, equities analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s payout ratio is 64.17%.

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.