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, Holdings Channel.com reports. The firm owned 69,377 shares of the company’s stock after buying an additional 2,056 shares during the quarter. Procter & Gamble accounts for approximately 0.2% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 25th biggest position. Sumitomo Life Insurance Co.’s holdings in Procter & Gamble were worth $12,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PG. Wulff Hansen & CO. increased its stake in Procter & Gamble by 16,292.0% during the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock valued at $606,230,000 after purchasing an additional 3,653,477 shares in the last quarter. TD Asset Management Inc increased its position in shares of Procter & Gamble by 114.9% during the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after acquiring an additional 1,907,716 shares in the last quarter. AMF Tjanstepension AB raised its holdings in shares of Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after acquiring an additional 1,466,115 shares during the last quarter. Swedbank AB bought a new position in Procter & Gamble in the 1st quarter valued at about $233,788,000. Finally, Ilex Capital Partners UK LLP acquired a new position in Procter & Gamble during the 1st quarter valued at about $228,212,000. Institutional investors own 65.77% of the company’s stock.

Insider Activity

In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Balaji Purushothaman sold 8,842 shares of the company’s 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 owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the transaction, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on PG shares. TD Cowen assumed coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price objective for the company. Evercore ISI raised their price objective on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.21.

Procter & Gamble Stock Performance

Procter & Gamble stock traded down $1.71 during midday 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 company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The firm 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. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The firm’s 50-day moving average price is $171.68 and its 200 day moving average price is $166.96.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. As a group, research analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

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

About Procter & Gamble

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.