Ilmarinen Mutual Pension Insurance Co grew its position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 107.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 290,000 shares of the company's stock after purchasing an additional 150,000 shares during the period. Procter & Gamble makes up about 0.4% of Ilmarinen Mutual Pension Insurance Co's investment portfolio, making the stock its 27th largest position. Ilmarinen Mutual Pension Insurance Co's holdings in Procter & Gamble were worth $48,619,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Howard Capital Management Group LLC increased its stake in shares of Procter & Gamble by 1.0% in the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company's stock worth $1,442,000 after buying an additional 82 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Procter & Gamble by 14.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company's stock worth $820,031,000 after purchasing an additional 608,168 shares during the last quarter. United Bank raised its stake in shares of Procter & Gamble by 1.7% in the 3rd quarter. United Bank now owns 13,367 shares of the company's stock valued at $2,315,000 after purchasing an additional 219 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of Procter & Gamble during the third quarter worth about $201,000. Finally, Texas Capital Bank Wealth Management Services Inc grew its stake in Procter & Gamble by 32.0% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,953 shares of the company's stock worth $1,377,000 after purchasing an additional 1,930 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.
Procter & Gamble Stock Performance
Shares of NYSE PG traded down $8.66 during midday trading on Friday, reaching $163.73. 13,446,957 shares of the company traded hands, compared to its average volume of 6,942,870. The stock has a 50-day moving average price of $169.17 and a 200 day moving average price of $169.12. The company has a market cap of $383.92 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 3.76 and a beta of 0.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly 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. 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 analyst estimates of $21.66 billion. During the same period in the prior year, the business posted $1.84 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble's dividend payout ratio (DPR) is presently 64.01%.
Insider Transactions at Procter & Gamble
In related news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction that occurred on 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 directly owns 172,814 shares of the company's stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction 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. This trade represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company's stock.
Analysts Set New Price Targets
Several analysts have issued reports on PG shares. UBS Group restated a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. Truist Financial raised their price objective on Procter & Gamble from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday. Piper Sandler dropped their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating on the stock in a report on Monday, February 24th. Wells Fargo & Company raised their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Finally, Barclays reaffirmed an "equal weight" rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Procter & Gamble currently has an average rating of "Moderate Buy" and an average target price of $182.00.
View Our Latest Research Report on PG
About Procter & Gamble
(
Free Report)
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.
Recommended Stories
Before you consider Procter & Gamble, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Procter & Gamble wasn't on the list.
While Procter & Gamble currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
