Trustco Bank Corp N Y reduced its holdings in shares of Procter & Gamble Co (NYSE:PG) by 22.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,748 shares of the company’s stock after selling 6,082 shares during the quarter. Procter & Gamble makes up about 3.2% of Trustco Bank Corp N Y’s portfolio, making the stock its 11th biggest holding. Trustco Bank Corp N Y’s holdings in Procter & Gamble were worth $2,481,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of PG. New England Investment & Retirement Group Inc. acquired a new stake in shares of Procter & Gamble in the first quarter valued at about $28,000. Magellan Asset Management Ltd acquired a new stake in shares of Procter & Gamble in the first quarter valued at about $29,000. Costello Asset Management INC bought a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $35,000. Barnett & Company Inc. boosted its position in shares of Procter & Gamble by 23.4% during the 2nd quarter. Barnett & Company Inc. now owns 453 shares of the company’s stock valued at $54,000 after purchasing an additional 86 shares in the last quarter. Finally, Lion Street Advisors LLC bought a new stake in shares of Procter & Gamble during the 1st quarter valued at about $56,000. Institutional investors own 63.33% of the company’s stock.
In other news, VP Valarie L. Sheppard sold 14,800 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $130.00, for a total value of $1,924,000.00. Following the completion of the transaction, the vice president now directly owns 39,929 shares of the company’s stock, valued at $5,190,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marylynn Fergusonmchugh sold 39,381 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $134.33, for a total value of $5,290,049.73. Following the completion of the transaction, the chief executive officer now directly owns 134,140 shares of the company’s stock, valued at $18,019,026.20. The disclosure for this sale can be found here. Insiders sold 670,952 shares of company stock valued at $78,308,456 over the last three months. Company insiders own 1.75% of the company’s stock.
Procter & Gamble (NYSE:PG) last released its earnings results on Thursday, July 30th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.15. Procter & Gamble had a return on equity of 29.53% and a net margin of 18.36%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $16.97 billion. During the same period last year, the business posted $1.10 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts forecast that Procter & Gamble Co will post 5.4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 24th will be given a $0.7907 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, July 23rd. Procter & Gamble’s dividend payout ratio is currently 61.72%.
PG has been the topic of several research analyst reports. Stifel Nicolaus upped their target price on Procter & Gamble from $117.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Barclays restated a “buy” rating on shares of Procter & Gamble in a research report on Sunday, August 2nd. Royal Bank of Canada reiterated a “hold” rating and issued a $120.00 price target on shares of Procter & Gamble in a report on Tuesday, April 14th. Citigroup increased their price target on Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Jefferies Financial Group increased their price target on Procter & Gamble from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Procter & Gamble presently has an average rating of “Buy” and a consensus price target of $133.67.
Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
Featured Article: What is net income?
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Co (NYSE:PG).
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.