Chemung Canal Trust Co. Sells 387 Shares of The Procter & Gamble Company (NYSE:PG)

Chemung Canal Trust Co. trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,120 shares of the company’s stock after selling 387 shares during the period. Procter & Gamble comprises 2.0% of Chemung Canal Trust Co.’s holdings, making the stock its 13th biggest holding. Chemung Canal Trust Co.’s holdings in Procter & Gamble were worth $9,576,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fiera Capital Corp lifted its holdings in Procter & Gamble by 1,135.1% during the 2nd quarter. Fiera Capital Corp now owns 20,688 shares of the company’s stock valued at $3,412,000 after buying an additional 19,013 shares in the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $6,891,000. Doheny Asset Management CA purchased a new stake in shares of Procter & Gamble in the second quarter valued at approximately $905,000. Magnolia Capital Advisors LLC bought a new position in Procter & Gamble in the second quarter worth approximately $4,466,000. Finally, Silver Lake Advisory LLC increased its holdings in Procter & Gamble by 1.4% during the 2nd quarter. Silver Lake Advisory LLC now owns 12,990 shares of the company’s stock worth $2,142,000 after purchasing an additional 181 shares during the period. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG stock opened at $164.41 on Monday. The Procter & Gamble Company has a 52-week low of $152.06 and a 52-week high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.49. The stock has a market cap of $387.20 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 3.69 and a beta of 0.45. The business has a 50-day simple moving average of $168.85 and a 200-day simple moving average of $169.37.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The company had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21,657,595.49 billion. Procter & Gamble had a return on equity of 32.88% and a net margin of 18.35%. Procter & Gamble’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. On average, equities analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed 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 is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.45%. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.17%.

Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were 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 in the company, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now owns 11,595 shares in the company, valued at approximately $2,002,804.35. This trade represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PG shares. Barclays increased their price target on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. DA Davidson reiterated a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a report on Thursday. Evercore ISI raised their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $180.53.

Procter & Gamble Company 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.