The Manufacturers Life Insurance Company reduced its stake in shares of The Procter & Gamble Company (NYSE: PG – Get Rating) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,204,935 shares of the company stock after selling 407,535 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Procter & Gamble were worth $ 360,684,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PG. OLD Mission Capital LLC bought a new stake in Procter & Gamble in the 3rd quarter worth $ 349,000. Morgan Stanley raised its position in Procter & Gamble by 5.0% during the 2nd quarter. Morgan Stanley now owns 34,500,719 shares of the company stock valued at $ 4,655,181,000 after purchasing an additional 1,632,893 shares during the last quarter. Keudell Morrison Wealth Management grew its position in shares of Procter & Gamble by 2.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 9,450 shares of the company stock worth $ 1,321,000 after buying an additional 219 shares during the last quarter. Center for Financial Planning Inc. lifted its stake in Procter & Gamble by 4.2% in the third quarter. Center for Financial Planning Inc. now owns 20,270 shares of the company stock worth $ 2,834,000 after acquiring an additional 816 shares during the period. Finally, EagleClaw Capital Managment LLC increased its position in Procter & Gamble by 17.0% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 6,775 shares of the company stock valued at $ 946,000 after purchasing an additional 985 shares during the period. Hedge funds and other institutional investors own 63.64% of the company stock.
In related news, Chairman David S. Taylor sold 60,000 shares of the stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $ 164.52, for a total transaction of $ 9,871,200.00. Following the completion of the transaction, the chairman now directly owns 253,933 shares of the company stock, valued at $ 41,777,057.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Matthew W. Janzaruk sold 334 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $ 162.43, for a total value of $ 54,251.62. Following the completion of the sale, the chief accounting officer now directly owns 1,220 shares in the company, valued at approximately $ 198,164.60. The disclosure for this sale can be found here. Insiders have sold 108,415 shares of company stock valued at $ 17,777,055 over the last ninety days. 0.51% of the stock is currently owned by corporate insiders.
Several research firms have weighed in on PG. Barclays cut their price objective on Procter & Gamble from $ 176.00 to $ 157.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Credit Suisse Group upped their price target on Procter & Gamble from $ 140.00 to $ 150.00 and gave the stock a “neutral” rating in a research note on Thursday, April 21st. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and raised their price objective for the company from $ 165.00 to $ 175.00 in a research report on Tuesday, March 22nd. StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. Finally, Raymond James lifted their price target on shares of Procter & Gamble from $ 175.00 to $ 180.00 and gave the company an “outperform” rating in a research report on Thursday, April 21st. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $ 164.27.
NYSE: PG opened at $ 133.84 on Wednesday. The firm has a market capitalization of $ 321.12 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 4.01 and a beta of 0.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.68 and a quick ratio of 0.47. The business has a fifty day moving average price of $ 152.64 and a 200-day moving average price of $ 155.05. The Procter & Gamble Company has a one year low of $ 131.94 and a one year high of $ 165.35.
Procter & Gamble (NYSE: PG – Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The company reported $ 1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $ 1.28 by $ 0.05. The firm had revenue of $ 19.38 billion during the quarter, compared to analyst estimates of $ 18.69 billion. Procter & Gamble had a return on equity of 32.39% and a net margin of 18.33%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $ 1.26 earnings per share. On average, equities research analysts expect that The Procter & Gamble Company will post 5.85 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, April 22nd were issued a $ 0.9133 dividend. This represents a $ 3.65 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Thursday, April 21st. This is an increase from Procter & Gamble’s previous quarterly dividend of $ 0.87. Procter & Gamble’s payout ratio is 63.70%.
Procter & Gamble Profile: (Get Rating)
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
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