Strategic Investment Advisors MI Takes $407,000 Position in The Procter & Gamble Company (NYSE:PG)
Strategic Investment Advisors MI acquired a new position in shares of The Procter & Gamble Company (NYSE:PG) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,929 shares of the company’s stock, valued at approximately $407,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PG. Costello Asset Management INC purchased a new stake in shares of The Procter & Gamble during the 2nd quarter worth about $35,000. FAI Wealth Management increased its holdings in The Procter & Gamble by 203.0% in the second quarter. FAI Wealth Management now owns 303 shares of the company’s stock worth $36,000 after buying an additional 203 shares during the last quarter. Estate Counselors LLC bought a new position in The Procter & Gamble during the second quarter valued at approximately $47,000. Barnett & Company Inc. lifted its stake in The Procter & Gamble by 23.4% in the second quarter. Barnett & Company Inc. now owns 453 shares of the company’s stock valued at $54,000 after acquiring an additional 86 shares during the last quarter. Finally, Lountzis Asset Management LLC bought a new stake in The Procter & Gamble in the second quarter worth approximately $58,000. Hedge funds and other institutional investors own 62.81% of the company’s stock.
A number of research firms have recently weighed in on PG. Deutsche Bank Aktiengesellschaft raised their price target on shares of The Procter & Gamble from $145.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, October 8th. SunTrust Banks increased their price objective on The Procter & Gamble from $115.00 to $120.00 in a report on Wednesday, July 22nd. Morgan Stanley raised their price objective on The Procter & Gamble from $144.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday, October 5th. Jefferies Financial Group upped their target price on The Procter & Gamble from $153.00 to $166.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, Barclays reissued a “buy” rating on shares of The Procter & Gamble in a research report on Sunday, August 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $137.87.
The Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.15. The Procter & Gamble had a net margin of 18.36% and a return on equity of 29.53%. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $16.97 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts expect that The Procter & Gamble Company will post 5.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be given a $0.7907 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.19%. The Procter & Gamble’s dividend payout ratio is currently 61.72%.
In other The Procter & Gamble news, VP Valarie L. Sheppard sold 2,922 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $136.53, for a total value of $398,940.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Valarie L. Sheppard sold 4,688 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $138.28, for a total transaction of $648,256.64. Following the completion of the transaction, the vice president now owns 26,704 shares of the company’s stock, valued at approximately $3,692,629.12. The disclosure for this sale can be found here. Insiders have sold a total of 272,757 shares of company stock worth $36,738,374 in the last three months. 0.70% of the stock is owned by insiders.
About The Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
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