The Manufacturers Life Insurance Company Lowers Stock Position in Procter & Gamble Company (The) $PG

The Manufacturers Life Insurance Company cut its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 5.9% during the first quarter, Holdings Channel.com reports. The firm owned 1,960,360 shares of the company’s stock after selling 121,981 shares during the period. The Manufacturers Life Insurance Company’s holdings in Procter & Gamble were worth $283,155,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PG. Cibc World Market Inc. raised its position in shares of Procter & Gamble by 40.6% in the 4th quarter. Cibc World Market Inc. now owns 511,833 shares of the company’s stock valued at $73,351,000 after purchasing an additional 147,701 shares during the last quarter. World Investment Advisors increased its stake in Procter & Gamble by 15.9% during the 4th quarter. World Investment Advisors now owns 105,915 shares of the company’s stock valued at $15,179,000 after purchasing an additional 14,492 shares in the last quarter. Resources Management Corp CT ADV increased its stake in Procter & Gamble by 41.8% during the 4th quarter. Resources Management Corp CT ADV now owns 81,511 shares of the company’s stock valued at $11,681,000 after purchasing an additional 24,010 shares in the last quarter. Indivisible Partners purchased a new position in shares of Procter & Gamble in the fourth quarter worth $2,120,000. Finally, MOR Wealth Management LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $1,975,000. Institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the topic of several research reports. Morgan Stanley cut their target price on Procter & Gamble from $175.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Raymond James Financial lowered their price target on Procter & Gamble from $175.00 to $170.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $163.00 price objective on shares of Procter & Gamble in a report on Monday, April 27th. Piper Sandler raised their price objective on Procter & Gamble from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, UBS Group upped their target price on Procter & Gamble from $166.00 to $172.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Twelve analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.74.

Procter & Gamble Trading Up 0.8%

NYSE PG opened at $148.66 on Tuesday. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $167.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market capitalization of $346.17 billion, a PE ratio of 21.73, a P/E/G ratio of 7.33 and a beta of 0.39. The company has a fifty day moving average of $147.46 and a 200 day moving average of $148.82.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, April 24th. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.03. The company had revenue of $21.23 billion for the quarter, compared to the consensus estimate of $21.52 billion. Procter & Gamble had a return on equity of 32.00% and a net margin of 19.16%.The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $1.54 EPS. Research analysts forecast that Procter & Gamble Company will post 6.88 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be issued a dividend of $1.0885 per share. This represents a $4.35 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, July 24th. Procter & Gamble’s dividend payout ratio (DPR) is 63.60%.

Procter & Gamble Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.