DnB Asset Management AS Acquires 29,240 Shares of The Procter & Gamble Company (NYSE:PG)

DnB Asset Management AS increased its position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 459,646 shares of the company's stock after acquiring an additional 29,240 shares during the period. DnB Asset Management AS's holdings in Procter & Gamble were worth $77,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Procter & Gamble during the 4th quarter worth $5,244,463,000. Raymond James Financial Inc. acquired a new position in Procter & Gamble during the fourth quarter worth about $1,010,685,000. Geode Capital Management LLC lifted its holdings in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company's stock worth $9,538,327,000 after acquiring an additional 3,619,466 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Procter & Gamble by 1,195.1% in the 4th 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. Finally, Franklin Resources Inc. grew its holdings in shares of Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company's stock valued at $3,290,573,000 after purchasing an additional 1,760,214 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Procter & Gamble

In related news, insider Marc S. Pritchard sold 90,450 shares of the firm's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gary A. Coombe sold 35,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the transaction, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock valued at $23,988,008 over the last ninety days. Corporate insiders own 0.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PG. UBS Group reaffirmed a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. Royal Bank of Canada restated a "sector perform" rating and set a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Piper Sandler lowered their price objective on Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. Finally, Stifel Nicolaus lifted their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a "hold" rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $181.82.

Procter & Gamble Stock Up 1.0 %

PG stock traded up $1.60 during midday trading on Monday, reaching $169.63. 2,938,337 shares of the company's stock traded hands, compared to its average volume of 6,874,161. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The company has a market cap of $397.77 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 3.76 and a beta of 0.41. The firm's fifty day moving average price is $168.60 and its 200-day moving average price is $169.31. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

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

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.37%. Procter & Gamble's dividend payout ratio (DPR) is currently 64.01%.

Procter & Gamble Profile

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.