Nippon Life Global Investors Americas Inc. reduced its position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 46.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,590 shares of the company's stock after selling 4,040 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Procter & Gamble were worth $770,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fayez Sarofim & Co lifted its stake in Procter & Gamble by 10.7% in the fourth quarter. Fayez Sarofim & Co now owns 4,907,842 shares of the company's stock valued at $825,517,000 after purchasing an additional 474,432 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Procter & Gamble by 2.0% during the 4th quarter. Stifel Financial Corp now owns 4,506,764 shares of the company's stock worth $755,571,000 after acquiring an additional 87,770 shares during the period. OneDigital Investment Advisors LLC increased its holdings in Procter & Gamble by 31.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 107,959 shares of the company's stock worth $18,099,000 after acquiring an additional 25,715 shares during the last quarter. Select Asset Management & Trust bought a new stake in Procter & Gamble in the 4th quarter valued at about $236,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in Procter & Gamble by 6.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 494,279 shares of the company's stock valued at $82,876,000 after purchasing an additional 31,319 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on PG shares. Stifel Nicolaus upped their price target on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. UBS Group reaffirmed a "buy" rating on shares of Procter & Gamble in a report on Monday, February 10th. Erste Group Bank raised Procter & Gamble from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $164.00 target price on shares of Procter & Gamble in a report on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $181.50.
Get Our Latest Report on Procter & Gamble
Insider Buying and Selling
In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the firm's stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company's stock, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $23,988,008 in the last ninety days. 0.18% of the stock is owned by insiders.
Procter & Gamble Price Performance
Shares of PG stock traded down $2.22 during trading hours on Wednesday, hitting $165.66. 9,307,451 shares of the company's stock were exchanged, compared to its average volume of 7,043,904. The company has a market capitalization of $388.46 billion, a PE ratio of 26.38, a PEG ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12-month low of $156.69 and a 12-month high of $180.43. The business's 50 day simple moving average is $168.31 and its 200-day simple moving average is $168.43.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS 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 for the quarter, compared to analysts' expectations of $21.66 billion. During the same quarter last year, the company earned $1.84 EPS. The firm's revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.
Procter & Gamble Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 21st will be paid a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, April 21st. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is 67.20%.
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.
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