SouthState Corp Sells 964 Shares of The Procter & Gamble Company (NYSE:PG)

SouthState Corp trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,611 shares of the company’s stock after selling 964 shares during the period. SouthState Corp’s holdings in Procter & Gamble were worth $11,080,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PG. Smart Money Group LLC grew its stake in Procter & Gamble by 13.8% in the 4th quarter. Smart Money Group LLC now owns 2,274 shares of the company’s stock valued at $333,000 after acquiring an additional 275 shares during the period. Summit Global Investments lifted its position in shares of Procter & Gamble by 108.8% during the 4th quarter. Summit Global Investments now owns 22,914 shares of the company’s stock worth $3,358,000 after purchasing an additional 11,938 shares during the last quarter. Natixis Advisors L.P. boosted its stake in Procter & Gamble by 0.3% in the fourth quarter. Natixis Advisors L.P. now owns 1,353,086 shares of the company’s stock valued at $198,281,000 after acquiring an additional 3,910 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Procter & Gamble by 0.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,695,456 shares of the company’s stock valued at $248,452,000 after purchasing an additional 12,038 shares during the period. Finally, West Family Investments Inc. lifted its stake in shares of Procter & Gamble by 1.6% in the 4th quarter. West Family Investments Inc. now owns 10,194 shares of the company’s stock worth $1,494,000 after acquiring an additional 158 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.3 %

NYSE:PG traded up $0.44 during mid-day trading on Thursday, hitting $163.84. 5,599,781 shares of the stock traded hands, compared to its average volume of 6,933,998. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $164.49. The firm’s 50 day moving average is $159.88 and its two-hundred day moving average is $153.97. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $386.69 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 3.31 and a beta of 0.43.

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

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Friday, April 19th will be paid a dividend of $1.0065 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Analyst Upgrades and Downgrades

PG has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their target price on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a research report on Thursday, January 18th. UBS Group increased their price objective on shares of Procter & Gamble from $172.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Royal Bank of Canada upped their target price on Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.76.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now directly owns 11,507 shares of the company’s stock, valued at $1,858,265.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO R. Alexandra Keith sold 776 shares of Procter & Gamble stock in a transaction on Monday, March 4th. The stock was sold at an average price of $158.11, for a total value of $122,693.36. Following the completion of the transaction, the chief executive officer now directly owns 4,859 shares in the company, valued at $768,256.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the transaction, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,865 shares of company stock worth $14,059,180. 0.17% of the stock is owned by corporate insiders.

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.