RiverFront Investment Group LLC increased its holdings in The Procter & Gamble Company (NYSE:PG - Free Report) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,298 shares of the company's stock after acquiring an additional 7,317 shares during the period. RiverFront Investment Group LLC's holdings in Procter & Gamble were worth $6,085,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Horizon Investment Services LLC increased its stake in shares of Procter & Gamble by 16.5% during the 4th quarter. Horizon Investment Services LLC now owns 2,128 shares of the company's stock worth $357,000 after purchasing an additional 301 shares during the last quarter. DnB Asset Management AS increased its position in Procter & Gamble by 6.8% during the fourth quarter. DnB Asset Management AS now owns 459,646 shares of the company's stock worth $77,060,000 after buying an additional 29,240 shares during the last quarter. Alerus Financial NA raised its holdings in Procter & Gamble by 81.4% during the fourth quarter. Alerus Financial NA now owns 42,834 shares of the company's stock valued at $7,181,000 after buying an additional 19,223 shares in the last quarter. Vertex Planning Partners LLC lifted its position in shares of Procter & Gamble by 7.0% in the fourth quarter. Vertex Planning Partners LLC now owns 3,963 shares of the company's stock worth $664,000 after buying an additional 259 shares during the last quarter. Finally, Slagle Financial LLC boosted its stake in shares of Procter & Gamble by 6.1% during the 4th quarter. Slagle Financial LLC now owns 40,972 shares of the company's stock worth $6,869,000 after acquiring an additional 2,371 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
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 directly owns 172,814 shares of the company's stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,450 shares of company stock worth $23,988,008. Insiders own 0.18% of the company's stock.
Analysts Set New Price Targets
PG has been the subject of a number of recent analyst reports. Erste Group Bank raised Procter & Gamble from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. DA Davidson restated a "buy" rating and set a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. UBS Group reaffirmed a "buy" rating on shares of Procter & Gamble in a research report on Monday, February 10th. Finally, Stifel Nicolaus increased their target price on Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $181.82.
Check Out Our Latest Stock Analysis on PG
Procter & Gamble Price Performance
Shares of PG traded up $2.65 during mid-day trading on Monday, reaching $170.68. The company had a trading volume of 5,350,768 shares, compared to its average volume of 7,697,875. The company's 50-day moving average is $168.60 and its 200-day moving average is $169.31. 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 company has a market capitalization of $400.21 billion, a P/E ratio of 27.18, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.02. The company had revenue of $21.88 billion during the quarter, compared to analysts' expectations of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business's revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $1.84 earnings per share. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.
Procter & Gamble Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble's payout ratio is 64.01%.
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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