Sumitomo Life Insurance Co. Has $12.02 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Sumitomo Life Insurance Co. grew its stake in shares of The Procter & Gamble Company (NYSE:PG) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,377 shares of the company’s stock after purchasing an additional 2,056 shares during the quarter. Procter & Gamble comprises about 0.2% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 25th biggest holding. Sumitomo Life Insurance Co.’s holdings in Procter & Gamble were worth $12,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Verum Partners LLC raised its position in Procter & Gamble by 1.4% during the third quarter. Verum Partners LLC now owns 6,324 shares of the company’s stock worth $1,095,000 after acquiring an additional 88 shares in the last quarter. Gleason Group Inc. increased its stake in shares of Procter & Gamble by 0.6% during the 3rd quarter. Gleason Group Inc. now owns 19,498 shares of the company’s stock worth $3,377,000 after purchasing an additional 116 shares during the last quarter. Safeguard Financial LLC raised its holdings in shares of Procter & Gamble by 5.1% in the 3rd quarter. Safeguard Financial LLC now owns 7,268 shares of the company’s stock valued at $1,259,000 after purchasing an additional 355 shares during the period. Roberts Wealth Advisors LLC grew its holdings in Procter & Gamble by 3.1% during the third quarter. Roberts Wealth Advisors LLC now owns 27,070 shares of the company’s stock worth $4,552,000 after purchasing an additional 809 shares during the period. Finally, Prism Advisors Inc. acquired a new position in Procter & Gamble during the third quarter worth approximately $209,000. Institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PG. BNP Paribas started coverage on Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price objective for the company. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and cut their target price for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a research note on Monday, September 30th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $176.21.

Procter & Gamble Price Performance

NYSE:PG traded down $1.71 during mid-day trading on Wednesday, reaching $171.86. The stock had a trading volume of 1,149,695 shares, compared to its average volume of 6,657,844. The stock has a 50-day simple moving average of $171.68 and a two-hundred day simple moving average of $166.96. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The stock has a market capitalization of $405.61 billion, a PE ratio of 28.37, a P/E/G ratio of 3.67 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. Procter & Gamble’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 EPS. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Insider Activity at Procter & Gamble

In other news, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the sale, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the sale, the chief executive officer now owns 21,513 shares in the company, valued at approximately $3,657,210. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 383,194 shares of company stock valued at $65,140,718 in the last quarter. Insiders own 0.17% of the company’s stock.

Procter & Gamble 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.