Arrow Financial Corp Has $5.24 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Arrow Financial Corp cut its position in The Procter & Gamble Company (NYSE:PG) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,762 shares of the company’s stock after selling 837 shares during the quarter. Arrow Financial Corp’s holdings in Procter & Gamble were worth $5,238,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Advantage Trust Co acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in Procter & Gamble during the 4th quarter valued at $31,000. Ruedi Wealth Management Inc. boosted its position in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in shares of Procter & Gamble in the fourth quarter valued at about $33,000. Finally, POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth about $34,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PG has been the topic of a number of research reports. Citigroup upped their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. DZ Bank upgraded 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. Stifel Nicolaus boosted their price target on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Evercore ISI boosted their target price on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average target price of $175.79.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $171.53 on Friday. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $171.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market cap of $404.83 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 3.64 and a beta of 0.41. The firm has a 50 day simple moving average of $167.42 and a 200 day simple moving average of $163.93.

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

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, July 19th. This represents a $4.03 annualized dividend and a yield of 2.35%. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Insiders Place Their Bets

In other news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the transaction, the chief executive officer now owns 263,537 shares in the company, valued at $44,508,763.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the transaction, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders have sold 375,553 shares of company stock valued at $63,829,141 in the last ninety days. 0.17% of the stock is currently owned by insiders.

About Procter & Gamble

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.