Earnest Partners LLC bought a new stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,301 shares of the company’s stock, valued at approximately $211,000.
Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Procter & Gamble in the fourth quarter worth about $3,956,117,000. Cerity Partners LLC increased its stake in shares of Procter & Gamble by 106.2% in the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after purchasing an additional 3,159,796 shares during the period. International Assets Investment Management LLC increased its stake in shares of Procter & Gamble by 13,850.3% in the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after purchasing an additional 2,727,685 shares during the period. TD Asset Management Inc increased its stake in shares of Procter & Gamble by 114.9% in the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after purchasing an additional 1,907,716 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Procter & Gamble by 17.1% in the fourth quarter. California Public Employees Retirement System now owns 9,492,039 shares of the company’s stock worth $1,390,963,000 after purchasing an additional 1,387,539 shares during the period. 65.77% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
PG has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Procter & Gamble from $170.00 to $181.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Argus lifted their target price on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup lifted their target price on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Barclays lifted their target price on Procter & Gamble from $170.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.29.
Insider Activity
In other news, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Shailesh Jejurikar sold 31,859 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $164.90, for a total transaction of $5,253,549.10. Following the sale, the chief operating officer now owns 9,739 shares of the company’s stock, valued at approximately $1,605,961.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. Insiders have sold a total of 94,320 shares of company stock valued at $15,646,323 in the last 90 days. 0.17% of the stock is owned by company insiders.
Procter & Gamble Trading Down 6.1 %
Shares of PG stock traded down $10.34 during trading hours on Tuesday, reaching $159.59. The company had a trading volume of 7,028,973 shares, compared to its average volume of 6,498,240. The company has a 50 day moving average of $166.46 and a 200 day moving average of $161.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The firm has a market cap of $376.65 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 3.18 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $170.92.
Procter & Gamble Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Friday, July 19th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.85%.
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.
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