Cigna Investments Inc. New Reduces Stock Position in Colgate-Palmolive (NYSE:CL)

Cigna Investments Inc. New decreased its position in Colgate-Palmolive (NYSE:CL) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,297 shares of the company’s stock after selling 127 shares during the quarter. Cigna Investments Inc. New’s holdings in Colgate-Palmolive were worth $861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Main Street Research LLC boosted its holdings in Colgate-Palmolive by 1.5% in the second 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 in the last quarter. Advisor OS LLC lifted its position in shares of Colgate-Palmolive by 4.5% in the 2nd quarter. Advisor OS LLC now owns 2,348 shares of the company’s stock worth $228,000 after purchasing an additional 101 shares during the period. BLB&B Advisors LLC boosted its stake in shares of Colgate-Palmolive by 2.5% during the 2nd quarter. BLB&B Advisors LLC now owns 4,337 shares of the company’s stock valued at $421,000 after purchasing an additional 104 shares in the last quarter. ZWJ Investment Counsel Inc. increased its position in shares of Colgate-Palmolive by 3.1% during the second quarter. ZWJ Investment Counsel Inc. now owns 3,591 shares of the company’s stock valued at $349,000 after buying an additional 109 shares during the period. Finally, Hexagon Capital Partners LLC raised its stake in Colgate-Palmolive by 9.5% in the second quarter. Hexagon Capital Partners LLC now owns 1,274 shares of the company’s stock worth $124,000 after buying an additional 110 shares in the last quarter. 80.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CL. Citigroup lifted their price objective on Colgate-Palmolive from $103.00 to $112.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company reduced their price target on Colgate-Palmolive from $100.00 to $92.00 and set an “underweight” rating on the stock in a research note on Monday. Bank of America boosted their target price on shares of Colgate-Palmolive from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Morgan Stanley boosted their price objective on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Colgate-Palmolive presently has an average rating of “Hold” and an average price target of $105.11.

Insider Activity

In other news, insider Sally Massey sold 15,850 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the transaction, the insider now directly owns 13,942 shares in the company, valued at $1,439,929.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Martina Hundmejean sold 2,313 shares of Colgate-Palmolive stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total transaction of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at approximately $1,220,874.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sally Massey sold 15,850 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $103.28, for a total value of $1,636,988.00. Following the completion of the sale, the insider now owns 13,942 shares of the company’s stock, valued at approximately $1,439,929.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,490 shares of company stock valued at $4,486,063 over the last three months. Insiders own 0.34% of the company’s stock.

Colgate-Palmolive Price Performance

NYSE CL opened at $93.67 on Friday. Colgate-Palmolive has a one year low of $73.97 and a one year high of $109.30. The stock has a 50-day moving average of $102.48 and a 200 day moving average of $98.14. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.28 and a current ratio of 1.04. The company has a market capitalization of $76.53 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 3.38 and a beta of 0.40.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $0.50 dividend. The ex-dividend date is Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.14%. Colgate-Palmolive’s dividend payout ratio is presently 57.31%.

Colgate-Palmolive 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.