Sumitomo Life Insurance Co. Purchases 3,517 Shares of Colgate-Palmolive (NYSE:CL)

Sumitomo Life Insurance Co. grew its holdings in shares of Colgate-Palmolive (NYSE:CL) by 34.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,800 shares of the company’s stock after acquiring an additional 3,517 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Colgate-Palmolive were worth $1,255,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CL. R Squared Ltd bought a new position in shares of Colgate-Palmolive during the 4th quarter valued at $165,000. Perigon Wealth Management LLC grew its stake in shares of Colgate-Palmolive by 3.6% during the fourth quarter. Perigon Wealth Management LLC now owns 33,677 shares of the company’s stock valued at $2,982,000 after buying an additional 1,184 shares during the last quarter. VCI Wealth Management LLC increased its holdings in shares of Colgate-Palmolive by 46.9% in the fourth quarter. VCI Wealth Management LLC now owns 17,547 shares of the company’s stock worth $1,595,000 after buying an additional 5,599 shares during the period. Curbstone Financial Management Corp lifted its stake in shares of Colgate-Palmolive by 23.2% in the 4th quarter. Curbstone Financial Management Corp now owns 16,990 shares of the company’s stock valued at $1,545,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Griffin Asset Management Inc. boosted its holdings in Colgate-Palmolive by 2.4% during the 4th quarter. Griffin Asset Management Inc. now owns 17,421 shares of the company’s stock valued at $1,584,000 after acquiring an additional 405 shares during the period. 80.41% of the stock is currently owned by institutional investors.

Colgate-Palmolive Price Performance

Shares of CL opened at $89.65 on Thursday. The firm’s 50-day simple moving average is $91.67 and its two-hundred day simple moving average is $97.34. Colgate-Palmolive has a fifty-two week low of $82.68 and a fifty-two week high of $109.30. The stock has a market cap of $73.24 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 3.59 and a beta of 0.44. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04.

Colgate-Palmolive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, January 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Tuesday, January 21st. Colgate-Palmolive’s dividend payout ratio (DPR) is presently 57.31%.

Insider Buying and Selling at Colgate-Palmolive

In other news, CFO Stanley J. Sutula III sold 45,410 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total transaction of $4,273,535.10. Following the sale, the chief financial officer now owns 36,726 shares in the company, valued at $3,456,283.86. This represents a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com downgraded Colgate-Palmolive from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. UBS Group dropped their price target on shares of Colgate-Palmolive from $112.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $101.00 price objective on shares of Colgate-Palmolive in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Colgate-Palmolive from $92.00 to $83.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Finally, Stifel Nicolaus reduced their price target on Colgate-Palmolive from $101.00 to $95.00 and set a “hold” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Colgate-Palmolive presently has a consensus rating of “Hold” and an average target price of $102.00.

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.