Dai ichi Life Insurance Company Ltd Sells 42,602 Shares of Colgate-Palmolive (NYSE:CL)

Dai ichi Life Insurance Company Ltd lessened its holdings in Colgate-Palmolive (NYSE:CL - Free Report) by 17.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,923 shares of the company's stock after selling 42,602 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Colgate-Palmolive were worth $21,584,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CL. E Fund Management Hong Kong Co. Ltd. bought a new stake in Colgate-Palmolive during the second quarter worth about $25,000. Continuum Advisory LLC lifted its position in Colgate-Palmolive by 46.5% during the second quarter. Continuum Advisory LLC now owns 394 shares of the company's stock worth $38,000 after purchasing an additional 125 shares during the period. Reston Wealth Management LLC bought a new position in shares of Colgate-Palmolive in the third quarter worth about $42,000. Capital Performance Advisors LLP bought a new position in shares of Colgate-Palmolive in the third quarter worth about $53,000. Finally, Prospera Private Wealth LLC bought a new position in shares of Colgate-Palmolive in the third quarter worth about $64,000. Institutional investors own 80.41% of the company's stock.

Insiders Place Their Bets

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $94.11, for a total value of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.37% of the company's stock.

Colgate-Palmolive Trading Up 1.2 %

NYSE:CL traded up $1.12 on Tuesday, reaching $96.46. 2,169,326 shares of the stock traded hands, compared to its average volume of 4,380,500. The firm has a market capitalization of $78.81 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. Colgate-Palmolive has a 1-year low of $75.50 and a 1-year high of $109.30. The company's 50 day moving average is $97.90 and its 200-day moving average is $98.58. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 9.46.

Colgate-Palmolive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive's payout ratio is 57.31%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. TD Cowen dropped their target price on shares of Colgate-Palmolive from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, October 28th. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $100.00 to $92.00 and set an "underweight" rating for the company in a report on Monday, October 28th. UBS Group increased their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. StockNews.com raised shares of Colgate-Palmolive from a "hold" rating to a "buy" rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Colgate-Palmolive from a "buy" rating to a "hold" rating and increased their target price for the stock from $107.00 to $109.00 in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Colgate-Palmolive currently has an average rating of "Moderate Buy" and an average price target of $105.11.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.