Yes, and it's not going to stop any time soon, so get used to it. 
Okay, seriously though.. we have a 'rule' that if someone wants to touch themselves like that, they need to do so in private. We're *constantly* having to remind them, even my 7 year old. It's not like they're being really, um.. vigorous in their touching or anything, but they like to have their hands down their pants. When they want to.. um.. be vigorous, then they do choose to have private time in their bedrooms. But the idle penis groping is a constant issue.
-Rachel
Mommy to Colwyn, 10/24/03
Lachlann, 8/5/05
Fiona, 6/7/08
Niall, 5/7/10