1832 Asset Management L.P. Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

1832 Asset Management L.P. trimmed its stake in The Procter & Gamble Company (NYSE:PG) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 739,917 shares of the company’s stock after selling 3,618 shares during the period. 1832 Asset Management L.P.’s holdings in Procter & Gamble were worth $108,427,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Procter & Gamble during the 4th quarter worth $3,956,117,000. Cerity Partners LLC boosted its stake in Procter & Gamble by 106.2% during the 4th quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after purchasing an additional 3,159,796 shares during the period. Wellington Management Group LLP boosted its stake in Procter & Gamble by 9.4% during the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares during the period. International Assets Investment Management LLC boosted its stake in Procter & Gamble by 13,850.3% during the 4th quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after purchasing an additional 2,727,685 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Procter & Gamble by 235.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock worth $473,475,000 after acquiring an additional 2,268,805 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Procter & Gamble

In related news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at $3,179,061.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 9,149 shares of Procter & Gamble stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $167.72, for a total transaction of $1,534,470.28. Following the transaction, the insider now directly owns 12,929 shares of the company’s stock, valued at $2,168,451.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the transaction, the chief executive officer now directly owns 19,042 shares in the company, valued at $3,179,061.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 154,544 shares of company stock worth $25,413,051. 0.17% of the stock is owned by company insiders.

Procter & Gamble Trading Down 0.6 %

Shares of NYSE PG traded down $0.96 during midday trading on Wednesday, reaching $166.05. 4,731,135 shares of the stock were exchanged, compared to its average volume of 6,614,055. The company has a market capitalization of $391.90 billion, a P/E ratio of 27.13, a P/E/G ratio of 3.34 and a beta of 0.42. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $168.54. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $162.29 and a 200-day moving average price of $156.71.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. The business had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.37 earnings per share. Equities research analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.42%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Thursday, April 18th. Procter & Gamble’s payout ratio is presently 65.85%.

Analysts Set New Price Targets

Several research firms have recently commented on PG. Argus raised their target price on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and raised their target price for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Jefferies Financial Group raised their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.76.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.