Corebridge Financial Inc. Has $90.74 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Corebridge Financial Inc. lowered its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 541,262 shares of the company's stock after selling 31,656 shares during the period. Procter & Gamble makes up about 0.5% of Corebridge Financial Inc.'s investment portfolio, making the stock its 21st largest holding. Corebridge Financial Inc.'s holdings in Procter & Gamble were worth $90,743,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of PG. Raymond James Financial Inc. acquired a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $1,010,685,000. Geode Capital Management LLC raised its stake in Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company's stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Procter & Gamble by 1,195.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock valued at $580,596,000 after purchasing an additional 2,973,757 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company's stock worth $3,290,573,000 after buying an additional 1,760,214 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Procter & Gamble by 25,115.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,736,857 shares of the company's stock worth $291,184,000 after purchasing an additional 1,729,969 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.

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Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 18,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,785,274.66. The trade was a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the firm's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares of the company's stock, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,450 shares of company stock worth $23,988,008. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Barclays restated an "equal weight" rating on shares of Procter & Gamble in a report on Thursday. Wells Fargo & Company increased their price objective on Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Erste Group Bank upgraded shares of Procter & Gamble from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Piper Sandler decreased their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating for the company in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $181.82.

Procter & Gamble Stock Performance

Shares of PG traded up $2.27 on Thursday, reaching $168.85. 6,208,083 shares of the stock traded hands, compared to its average volume of 6,483,160. The firm has a market cap of $395.92 billion, a price-to-earnings ratio of 26.89, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43. The stock's 50-day moving average price is $168.47 and its 200-day moving average price is $169.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $21.88 billion during the quarter, compared to analysts' expectations of $21.66 billion. During the same quarter in the prior year, the company posted $1.84 EPS. The business's revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Friday, January 24th. Procter & Gamble's payout ratio is 64.01%.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.