Shelter Mutual Insurance Co Reduces Stake in Procter & Gamble Co (PG)
Shelter Mutual Insurance Co lowered its position in shares of Procter & Gamble Co (NYSE:PG) by 10.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,290 shares of the company’s stock after selling 12,800 shares during the quarter. Procter & Gamble comprises 2.7% of Shelter Mutual Insurance Co’s holdings, making the stock its 13th biggest position. Shelter Mutual Insurance Co’s holdings in Procter & Gamble were worth $9,000,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in Procter & Gamble by 63.1% in the first quarter. Franklin Resources Inc. now owns 11,150,063 shares of the company’s stock valued at $883,964,000 after purchasing an additional 4,315,180 shares in the last quarter. BlackRock Inc. raised its stake in Procter & Gamble by 1.9% in the first quarter. BlackRock Inc. now owns 162,599,226 shares of the company’s stock valued at $12,890,867,000 after purchasing an additional 2,961,408 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Procter & Gamble by 575.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,205,842 shares of the company’s stock valued at $294,553,000 after purchasing an additional 2,731,361 shares in the last quarter. American Century Companies Inc. raised its stake in Procter & Gamble by 17.9% in the first quarter. American Century Companies Inc. now owns 13,922,673 shares of the company’s stock valued at $1,103,790,000 after purchasing an additional 2,115,777 shares in the last quarter. Finally, HS Management Partners LLC acquired a new position in Procter & Gamble in the fourth quarter valued at about $142,467,000. 58.32% of the stock is owned by institutional investors.
A number of research firms recently commented on PG. Atlantic Securities began coverage on Procter & Gamble in a research note on Thursday, September 20th. They issued an “overweight” rating and a $94.00 price target for the company. ValuEngine raised Procter & Gamble from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $78.00 price target on shares of Procter & Gamble in a research note on Thursday, August 16th. Deutsche Bank boosted their target price on Procter & Gamble from $84.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. Finally, Zacks Investment Research raised Procter & Gamble from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $84.59.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, July 31st. The company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The company had revenue of $16.50 billion for the quarter, compared to analysts’ expectations of $16.52 billion. Procter & Gamble had a return on equity of 20.94% and a net margin of 14.59%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 earnings per share. sell-side analysts predict that Procter & Gamble Co will post 4.42 earnings per share for the current year.
In other news, SVP Valarie L. Sheppard sold 27,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $80.66, for a total transaction of $2,177,820.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kathleen B. Fish sold 599 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $83.48, for a total value of $50,004.52. Following the sale, the insider now owns 38,655 shares in the company, valued at $3,226,919.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,186 shares of company stock worth $12,080,849. Company insiders own 1.84% of the company’s stock.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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