Allegheny Financial Group LTD Acquires New Holdings in Colgate-Palmolive (NYSE:CL)

Allegheny Financial Group LTD bought a new position in shares of Colgate-Palmolive (NYSE:CL) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 2,262 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CL. Main Street Research LLC lifted its stake in Colgate-Palmolive by 1.5% during the 2nd quarter. Main Street Research LLC now owns 6,939 shares of the company’s stock valued at $673,000 after acquiring an additional 100 shares during the period. BLB&B Advisors LLC boosted its position in Colgate-Palmolive by 2.5% in the second quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock worth $421,000 after purchasing an additional 104 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its position in Colgate-Palmolive by 3.1% in the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock worth $349,000 after purchasing an additional 109 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Colgate-Palmolive by 9.5% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after acquiring an additional 110 shares during the last quarter. Finally, RFG Advisory LLC grew its position in shares of Colgate-Palmolive by 2.1% during the 2nd quarter. RFG Advisory LLC now owns 5,411 shares of the company’s stock valued at $525,000 after acquiring an additional 112 shares during the period. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Sally Massey sold 15,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the transaction, the insider now owns 13,942 shares of the company’s stock, valued at $1,439,929.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Gregory Malcolm sold 10,533 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $103.10, for a total transaction of $1,085,952.30. Following the completion of the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,069,868.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sally Massey sold 15,850 shares of Colgate-Palmolive stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total transaction of $1,636,988.00. Following the completion of the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,490 shares of company stock worth $4,486,063. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CL. Hsbc Global Res downgraded Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price target on Colgate-Palmolive from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Barclays lifted their price objective on Colgate-Palmolive from $91.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, Sanford C. Bernstein raised their target price on shares of Colgate-Palmolive from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.11.

Colgate-Palmolive Trading Up 1.2 %

Shares of CL opened at $107.77 on Wednesday. The firm has a market capitalization of $88.42 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 3.73 and a beta of 0.39. The company has a 50-day moving average of $100.44 and a 200 day moving average of $94.08. Colgate-Palmolive has a 1-year low of $67.62 and a 1-year high of $107.95. The company has a debt-to-equity ratio of 16.90, a current ratio of 1.06 and a quick ratio of 0.70.

Colgate-Palmolive (NYSE:CL) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5 billion. Colgate-Palmolive had a return on equity of 470.19% and a net margin of 14.21%. Colgate-Palmolive’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, research analysts expect that Colgate-Palmolive will post 3.57 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, July 19th. Colgate-Palmolive’s payout ratio is 63.29%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.