Chemung Canal Trust Co. Sells 3,650 Shares of The Procter & Gamble Company (NYSE:PG)

Chemung Canal Trust Co. reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 6.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,507 shares of the company’s stock after selling 3,650 shares during the quarter. Procter & Gamble comprises about 2.0% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 16th biggest position. Chemung Canal Trust Co.’s holdings in Procter & Gamble were worth $9,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC bought a new stake in Procter & Gamble during the fourth quarter worth approximately $17,696,000. Bayesian Capital Management LP grew its stake in shares of Procter & Gamble by 43.0% during the fourth quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock valued at $7,743,000 after buying an additional 15,900 shares during the last quarter. Steele Capital Management Inc. bought a new position in shares of Procter & Gamble during the first quarter valued at approximately $204,000. Mosley Wealth Management bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $537,000. Finally, United Advisor Group LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $3,463,000. 65.77% of the stock is owned by institutional investors.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the transaction, the chief financial officer now owns 37,208 shares of the company’s stock, valued at $6,325,360. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 383,194 shares of company stock valued at $65,140,718 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Down 0.3 %

Shares of PG stock traded down $0.56 during trading hours on Friday, reaching $169.56. 1,257,959 shares of the company’s stock were exchanged, compared to its average volume of 6,645,644. The stock’s 50 day moving average is $171.15 and its 200-day moving average is $166.43. The company has a market cap of $400.19 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 3.76 and a beta of 0.41. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $177.94.

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

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is 65.85%.

Analyst Ratings Changes

A number of research firms have recently commented on PG. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Thursday, August 29th. Evercore ISI upped their target price on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.89.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.