Convergence Investment Partners LLC Has $879,000 Stake in The Procter & Gamble Company (NYSE:PG)

Convergence Investment Partners LLC lifted its stake in shares of The Procter & Gamble Company (NYSE:PG) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,996 shares of the company’s stock after purchasing an additional 90 shares during the period. Convergence Investment Partners LLC’s holdings in Procter & Gamble were worth $879,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PG. Wyrmwood Management LLC acquired a new stake in Procter & Gamble in the 4th quarter worth about $29,000. Naples Money Management LLC acquired a new stake in Procter & Gamble in the 4th quarter worth about $29,000. Criterion Capital Advisors LLC acquired a new stake in Procter & Gamble in the 4th quarter worth about $33,000. Mendota Financial Group LLC raised its stake in Procter & Gamble by 636.6% in the 4th quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock worth $44,000 after purchasing an additional 261 shares in the last quarter. Finally, Morton Brown Family Wealth LLC increased its holdings in Procter & Gamble by 206.6% in the 4th quarter. Morton Brown Family Wealth LLC now owns 417 shares of the company’s stock valued at $61,000 after buying an additional 281 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a report on Thursday, January 18th. Wells Fargo & Company boosted their price target on shares of Procter & Gamble from $162.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Royal Bank of Canada upped their target price on shares of Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 24th. Barclays increased their price target on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Finally, StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $169.76.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 28,369 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now directly owns 11,507 shares in the company, valued at $1,858,265.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ma. Fatima Francisco sold 45,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $156.00, for a total value of $7,020,000.00. Following the completion of the transaction, the chief executive officer now owns 973 shares in the company, valued at approximately $151,788. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,865 shares of company stock valued at $16,029,280. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Trading Down 0.8 %

Shares of NYSE PG traded down $1.26 during mid-day trading on Friday, hitting $161.29. The stock had a trading volume of 5,659,784 shares, compared to its average volume of 6,820,118. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $164.32. The business has a 50 day moving average price of $159.64 and a two-hundred day moving average price of $153.57. The firm has a market cap of $380.67 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 3.27 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The business had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. During the same quarter in the prior year, the business earned $1.37 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a dividend of $1.0065 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.50%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.69%.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.