Payden & Rygel Sells 39,600 Shares of The Procter & Gamble Company (NYSE:PG)

Payden & Rygel reduced its position in The Procter & Gamble Company (NYSE:PG - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,180 shares of the company's stock after selling 39,600 shares during the period. Payden & Rygel's holdings in Procter & Gamble were worth $11,933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Procter & Gamble during the 4th quarter valued at about $5,244,463,000. Raymond James Financial Inc. bought a new position in Procter & Gamble during the fourth quarter valued at approximately $1,010,685,000. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 3,619,466 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in 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 worth $580,596,000 after purchasing an additional 2,973,757 shares during the period. Finally, Franklin Resources Inc. raised its stake in 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 buying an additional 1,760,214 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. 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 sale, 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 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 valued at $23,988,008 in the last quarter. 0.18% of the stock is currently owned by insiders.

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Procter & Gamble Price Performance

PG traded down $8.66 during 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 Procter & Gamble Company has a 12-month low of $153.52 and a 12-month high of $180.43. The firm has a fifty day simple moving average of $169.17 and a 200 day simple moving average of $169.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company has a market cap of $383.92 billion, a P/E ratio of 26.07, a PEG ratio of 3.76 and a beta of 0.43.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $21.88 billion for the quarter, compared to analysts' expectations of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 EPS. On average, equities analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.46%. The ex-dividend date was Friday, January 24th. Procter & Gamble's dividend payout ratio is presently 64.01%.

Analyst Ratings Changes

PG has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Stifel Nicolaus boosted their price target on Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. Truist Financial raised their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday. Wells Fargo & Company boosted their target price 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. Finally, Piper Sandler dropped their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating on the stock in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $182.00.

Procter & Gamble Company 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.