The Procter & Gamble Company (NYSE:PG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,288,400 shares of the company's stock after selling 130,171 shares during the quarter. Procter & Gamble makes up approximately 0.9% of PNC Financial Services Group Inc.'s investment portfolio, making the stock its 11th largest position. PNC Financial Services Group Inc. owned about 0.35% of Procter & Gamble worth $1,435,551,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC increased its position in shares of Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company's stock worth $16,300,000 after purchasing an additional 4,035 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in shares of Procter & Gamble in the 3rd quarter valued at approximately $5,705,000. Welch Group LLC lifted its holdings in shares of Procter & Gamble by 0.9% in the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company's stock worth $56,094,000 after acquiring an additional 2,990 shares during the last quarter. Swiss National Bank boosted its position in shares of Procter & Gamble by 0.6% during the 3rd quarter. Swiss National Bank now owns 7,005,790 shares of the company's stock worth $1,213,403,000 after purchasing an additional 39,000 shares during the period. Finally, GAMMA Investing LLC raised its position in Procter & Gamble by 67.2% in the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company's stock valued at $4,420,000 after purchasing an additional 10,777 shares during the period. Hedge funds and other institutional investors own 65.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PG. Morgan Stanley raised their price target on Procter & Gamble from $174.00 to $191.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Barclays downgraded Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 target price for the company. in a research report on Monday, September 30th. StockNews.com cut shares of Procter & Gamble from a "buy" rating to a "hold" rating in a research report on Thursday, August 1st. DZ Bank upgraded shares of Procter & Gamble from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a report on Thursday, August 29th. Finally, Piper Sandler began coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a "neutral" rating and a $174.00 price target for the company. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of "Moderate Buy" and an average price target of $177.00.

Insider Buying and Selling at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the company's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the transaction, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the firm's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,727 shares of company stock worth $46,014,037. Corporate insiders own 0.18% of the company's stock.

Procter & Gamble Price Performance

Shares of NYSE:PG traded up $0.02 during midday trading on Tuesday, hitting $170.77. 5,682,402 shares of the stock were exchanged, compared to its average volume of 6,672,438. The stock has a market cap of $402.17 billion, a P/E ratio of 29.37, a PEG ratio of 3.67 and a beta of 0.42. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The company has a 50 day moving average price of $170.21 and a 200-day moving average price of $168.45. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The company's revenue for the quarter was down .6% compared to the same quarter last year. On average, research analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble's payout ratio is 69.48%.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.