Truist Financial Corp lessened its stake in shares of Procter & Gamble Company (The) (NYSE:PG – Free Report) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,215,746 shares of the company’s stock after selling 12,781 shares during the quarter. Truist Financial Corp’s holdings in Procter & Gamble were worth $193,693,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of PG. Kingstone Capital Partners Texas LLC boosted its holdings in Procter & Gamble by 655,209.0% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 76,028,952 shares of the company’s stock worth $11,832,680,000 after acquiring an additional 76,017,350 shares during the period. Nuveen LLC purchased a new position in shares of Procter & Gamble in the first quarter valued at $1,954,941,000. Price T Rowe Associates Inc. MD grew its holdings in Procter & Gamble by 13.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,480,670 shares of the company’s stock valued at $3,660,737,000 after purchasing an additional 2,466,308 shares in the last quarter. Invesco Ltd. increased its stake in Procter & Gamble by 19.8% during the 1st quarter. Invesco Ltd. now owns 13,493,604 shares of the company’s stock worth $2,299,580,000 after buying an additional 2,228,151 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Procter & Gamble by 140.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,663,246 shares of the company’s stock worth $453,870,000 after buying an additional 1,555,504 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
Procter & Gamble Stock Performance
Shares of PG opened at $153.67 on Wednesday. The stock has a market capitalization of $359.66 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 4.05 and a beta of 0.36. The business’s fifty day moving average price is $155.87 and its 200 day moving average price is $160.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. Procter & Gamble Company has a 12-month low of $149.91 and a 12-month high of $180.43.
Procter & Gamble Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were issued a $1.0568 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.98%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on PG shares. Evercore ISI restated an “in-line” rating and set a $170.00 target price (down from $190.00) on shares of Procter & Gamble in a research note on Monday, July 14th. Wells Fargo & Company lowered their price objective on Procter & Gamble from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Barclays set a $164.00 target price on Procter & Gamble and gave the company an “equal weight” rating in a research report on Thursday, July 31st. BNP Paribas Exane decreased their price target on shares of Procter & Gamble from $177.00 to $172.00 and set an “outperform” rating for the company in a research report on Tuesday, September 23rd. Finally, BNP Paribas reaffirmed an “outperform” rating and issued a $177.00 price target on shares of Procter & Gamble in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.68.
Check Out Our Latest Analysis on Procter & Gamble
Insider Activity at Procter & Gamble
In other news, CFO Andre Schulten sold 11,638 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $157.27, for a total transaction of $1,830,308.26. Following the completion of the transaction, the chief financial officer owned 52,642 shares of the company’s stock, valued at approximately $8,279,007.34. The trade was a 18.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 10,194 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $158.16, for a total transaction of $1,612,283.04. Following the transaction, the chief executive officer directly owned 34,978 shares of the company’s stock, valued at $5,532,120.48. The trade was a 22.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 120,181 shares of company stock valued at $18,918,012. 0.20% of the stock is owned by insiders.
About Procter & Gamble
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.
Featured Stories
- Five stocks we like better than Procter & Gamble
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- PayPal Stock: Why Wall Street May Be Undervaluing This Giant
- Pros And Cons Of Monthly Dividend Stocks
- Why Vertical Aerospace Could Lead the eVTOL Market by 2028
- Growth Stocks: What They Are, Examples and How to Invest
- Is Draganfly’s Army Partnership a Game-Changer for Investors?
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Company (The) (NYSE:PG – Free Report).
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.