Concord Asset Management LLC VA Reduces Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Concord Asset Management LLC VA decreased its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 28.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,846 shares of the company's stock after selling 6,697 shares during the quarter. Concord Asset Management LLC VA's holdings in Procter & Gamble were worth $2,824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its holdings 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 valued at $16,300,000 after acquiring an additional 4,035 shares during the period. 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 position in shares of Procter & Gamble in the 4th quarter valued at approximately $569,000. Nordea Investment Management AB grew its position in 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 purchasing an additional 201,695 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in Procter & Gamble by 3.4% during 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 in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 47,847 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction 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. The trade was a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 151,097 shares of company stock valued at $25,635,076 over the last 90 days. 0.18% of the stock is owned by company insiders.

Procter & Gamble Price Performance

PG traded down $1.51 on Tuesday, reaching $167.25. 537,627 shares of the company's stock were exchanged, compared to its average volume of 7,119,466. The stock has a market cap of $392.18 billion, a PE ratio of 26.68, a P/E/G ratio of 3.73 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43. The stock's fifty day moving average price is $168.34 and its 200-day moving average price is $169.41.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $21.88 billion during the quarter, compared to analysts' expectations of $21.66 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced 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 of this dividend is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.41%. Procter & Gamble's payout ratio is currently 64.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PG shares. JPMorgan Chase & Co. dropped their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Morgan Stanley raised their price objective on Procter & Gamble from $174.00 to $191.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Royal Bank of Canada restated a "sector perform" rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. Evercore ISI raised their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Finally, UBS Group decreased their target price on shares of Procter & Gamble from $196.00 to $189.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Procter & Gamble has an average rating of "Moderate Buy" and a consensus target price of $180.53.

Procter & Gamble Profile

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.