Verdence Capital Advisors LLC Increases Stock Position in The Procter & Gamble Company (NYSE:PG)

Verdence Capital Advisors LLC boosted its position in The Procter & Gamble Company (NYSE:PG) by 1.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,379 shares of the company’s stock after buying an additional 638 shares during the period. Verdence Capital Advisors LLC’s holdings in Procter & Gamble were worth $8,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PG. Concurrent Investment Advisors LLC lifted its stake in shares of Procter & Gamble by 4.5% during 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 during the period. Radnor Capital Management LLC acquired a new position in shares of Procter & Gamble in the 3rd quarter valued at about $5,705,000. Welch Group LLC increased its stake in shares of Procter & Gamble by 0.9% in the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after purchasing an additional 2,990 shares during the period. GAMMA Investing LLC raised its position in shares of Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after buying an additional 10,777 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. boosted its stake in Procter & Gamble by 15.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 426,820 shares of the company’s stock valued at $73,925,000 after buying an additional 55,620 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Up 2.6 %

PG opened at $167.73 on Friday. 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 Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The company has a market cap of $395.01 billion, a P/E ratio of 28.92, a P/E/G ratio of 3.48 and a beta of 0.42. The business’s 50-day moving average price is $171.08 and its 200-day moving average price is $168.15.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, equities analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Announces Dividend

The firm 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. This represents a $4.03 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.31%.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the transaction, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the transaction, the chief executive officer now owns 263,537 shares in the company, valued at approximately $44,508,763.93. The trade was a 0.00 % 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 Susan Street Whaley sold 634 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 313,597 shares of company stock valued at $53,268,499. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

PG has been the subject of several research analyst reports. DA Davidson upped their price target on shares of Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Finally, Stifel Nicolaus increased their price target on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Company Profile

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.