Sumitomo Life Insurance Co. Has $5.56 Million Position in Procter & Gamble Co (PG)

Sumitomo Life Insurance Co. boosted its stake in Procter & Gamble Co (NYSE:PG) by 4.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,213 shares of the company’s stock after buying an additional 2,872 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Procter & Gamble were worth $5,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Twin Tree Management LP purchased a new stake in shares of Procter & Gamble during the 1st quarter valued at $144,000. Clearwater Capital Advisors LLC purchased a new stake in shares of Procter & Gamble during the 1st quarter valued at $154,000. Corbyn Investment Management Inc. MD purchased a new stake in shares of Procter & Gamble during the 1st quarter valued at $157,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Procter & Gamble by 296.5% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,038 shares of the company’s stock valued at $162,000 after purchasing an additional 1,524 shares during the last quarter. Finally, Financial Gravity Wealth Inc. purchased a new stake in shares of Procter & Gamble during the 1st quarter valued at $170,000. 58.32% of the stock is owned by institutional investors and hedge funds.

In other Procter & Gamble news, insider Kathleen B. Fish sold 26,946 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $80.55, for a total value of $2,170,500.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Valarie L. Sheppard sold 27,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $80.66, for a total value of $2,177,820.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,186 shares of company stock valued at $12,080,849. 1.84% of the stock is owned by corporate insiders.

PG stock opened at $84.27 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.40. The firm has a market cap of $216.35 billion, a PE ratio of 20.34, a PEG ratio of 2.76 and a beta of 0.57. Procter & Gamble Co has a fifty-two week low of $70.73 and a fifty-two week high of $93.51.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, July 31st. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Procter & Gamble had a return on equity of 20.94% and a net margin of 14.59%. The business had revenue of $16.50 billion during the quarter, compared to the consensus estimate of $16.52 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. equities analysts forecast that Procter & Gamble Co will post 4.42 EPS for the current year.

Several equities research analysts have recently issued reports on PG shares. Citigroup decreased their target price on Procter & Gamble from $98.00 to $89.00 and set a “buy” rating for the company in a research report on Friday, July 20th. SunTrust Banks increased their price target on Procter & Gamble to $80.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Deutsche Bank increased their price target on Procter & Gamble from $81.00 to $84.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Morgan Stanley increased their price target on Procter & Gamble from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Finally, Jefferies Financial Group downgraded Procter & Gamble to a “hold” rating and set a $79.00 price target for the company. in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Procter & Gamble currently has an average rating of “Hold” and an average price target of $84.59.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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