Essex Savings Bank Sells 1,117 Shares of The Procter & Gamble Company (NYSE:PG)

Essex Savings Bank lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,870 shares of the company’s stock after selling 1,117 shares during the quarter. Procter & Gamble makes up approximately 1.4% of Essex Savings Bank’s portfolio, making the stock its 16th largest holding. Essex Savings Bank’s holdings in Procter & Gamble were worth $5,511,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PG. Concurrent Investment Advisors LLC increased its holdings 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 valued at $16,300,000 after acquiring an additional 4,035 shares during the last quarter. Copley Financial Group Inc. acquired a new position in Procter & Gamble during the third quarter valued at approximately $668,000. Fortem Financial Group LLC bought a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $569,000. Synovus Financial Corp lifted its stake in shares of Procter & Gamble by 3.4% in the third quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after buying an additional 6,077 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Procter & Gamble by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after buying an additional 201,695 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 0.6 %

Shares of PG opened at $160.54 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 stock has a market cap of $378.08 billion, a PE ratio of 27.68, a PEG ratio of 3.41 and a beta of 0.45. The Procter & Gamble Company has a 1 year low of $146.28 and a 1 year high of $180.43. The stock has a 50 day simple moving average of $169.37 and a 200-day simple moving average of $169.45.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same period in the prior year, the company posted $1.83 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts predict that The Procter & Gamble Company will post 6.93 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be given a $1.0065 dividend. The ex-dividend date is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.51%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Analysts Set New Price Targets

Several brokerages recently commented on PG. Piper Sandler initiated coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. UBS Group cut their price objective on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley lifted their price target on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Finally, DA Davidson reaffirmed a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a research report on Friday, December 27th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $180.05.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This represents a 54.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the transaction, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This represents a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is currently owned by insiders.

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.