Riggs Asset Managment Co. Inc. Trims Position in The Procter & Gamble Company (NYSE:PG)

Riggs Asset Managment Co. Inc. reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,392 shares of the company’s stock after selling 61 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Procter & Gamble were worth $233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Round Rock Advisors LLC raised its holdings in Procter & Gamble by 60.4% in the 4th quarter. Round Rock Advisors LLC now owns 5,781 shares of the company’s stock worth $969,000 after purchasing an additional 2,178 shares during the period. Sutton Place Investors LLC increased its position in Procter & Gamble by 0.9% in the fourth quarter. Sutton Place Investors LLC now owns 12,967 shares of the company’s stock worth $2,174,000 after buying an additional 120 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Procter & Gamble by 4.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 83,599 shares of the company’s stock worth $14,015,000 after buying an additional 3,479 shares during the period. Greenleaf Trust lifted its position in shares of Procter & Gamble by 1.3% during the 4th quarter. Greenleaf Trust now owns 108,083 shares of the company’s stock valued at $18,120,000 after buying an additional 1,438 shares in the last quarter. Finally, Golden State Equity Partners grew its stake in shares of Procter & Gamble by 49.6% during the 4th quarter. Golden State Equity Partners now owns 8,152 shares of the company’s stock valued at $1,367,000 after acquiring an additional 2,703 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

NYSE:PG opened at $165.98 on Monday. The firm has a market capitalization of $389.20 billion, a PE ratio of 26.43, a PEG ratio of 3.73 and a beta of 0.45. The stock’s fifty day moving average is $168.34 and its 200 day moving average is $169.41. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The firm had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.84 EPS. On average, sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.17%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction on Thursday, January 23rd. The stock was 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 of the company’s stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the transaction, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,097 shares of company stock valued at $25,635,076 in the last quarter. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PG shares. DA Davidson reaffirmed a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Evercore ISI increased their price target on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. UBS Group dropped their price objective on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Barclays lifted their target price on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. 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 data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target 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.