Dai ichi Life Insurance Company Ltd Trims Stock Position in Colgate-Palmolive (NYSE:CL)

Dai ichi Life Insurance Company Ltd cut its stake in shares of Colgate-Palmolive (NYSE:CL) by 17.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,923 shares of the company’s stock after selling 42,602 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Colgate-Palmolive were worth $21,584,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in shares of Colgate-Palmolive by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,526,990 shares of the company’s stock worth $988,997,000 after acquiring an additional 557,492 shares during the period. Legal & General Group Plc increased its position in shares of Colgate-Palmolive by 0.8% during the second quarter. Legal & General Group Plc now owns 7,785,101 shares of the company’s stock worth $755,465,000 after acquiring an additional 61,413 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Colgate-Palmolive by 108.4% during the second quarter. Acadian Asset Management LLC now owns 5,682,280 shares of the company’s stock valued at $551,367,000 after purchasing an additional 2,955,442 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Colgate-Palmolive by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,595,245 shares of the company’s stock valued at $477,032,000 after purchasing an additional 11,750 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Colgate-Palmolive by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,503,450 shares of the company’s stock valued at $340,006,000 after purchasing an additional 565,524 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Colgate-Palmolive from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Redburn Atlantic upgraded shares of Colgate-Palmolive to a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Colgate-Palmolive from a “buy” rating to a “hold” rating and raised their target price for the company from $107.00 to $109.00 in a research note on Monday, September 9th. Morgan Stanley raised their target price on shares of Colgate-Palmolive from $103.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Piper Sandler began coverage on shares of Colgate-Palmolive in a research note on Tuesday, September 24th. They issued an “overweight” rating and a $121.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.11.

Insider Buying and Selling

In related news, CFO Stanley J. Sutula III sold 45,410 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 36,726 shares in the company, valued at approximately $3,456,283.86. The trade was a 55.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

Colgate-Palmolive Stock Up 0.4 %

CL stock opened at $95.34 on Tuesday. The stock has a market capitalization of $77.89 billion, a P/E ratio of 27.32, a P/E/G ratio of 3.39 and a beta of 0.42. The firm has a 50-day simple moving average of $97.90 and a 200-day simple moving average of $98.58. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 9.46. Colgate-Palmolive has a 52 week low of $75.50 and a 52 week high of $109.30.

Colgate-Palmolive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.10%. Colgate-Palmolive’s dividend payout ratio is currently 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.