Pegasus Asset Management Inc. Reduces Position in The Procter & Gamble Company (NYSE:PG)

Pegasus Asset Management Inc. trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 0.6% during the third quarter, HoldingsChannel reports. The firm owned 31,477 shares of the company’s stock after selling 194 shares during the period. Procter & Gamble comprises about 2.1% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 18th biggest holding. Pegasus Asset Management Inc.’s holdings in Procter & Gamble were worth $5,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble in the second quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble during the 2nd quarter worth $29,000. Ruedi Wealth Management Inc. raised its holdings in Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after buying an additional 77 shares during the period. POM Investment Strategies LLC acquired a new position in Procter & Gamble in the second quarter valued at about $34,000. Finally, Quest Partners LLC purchased a new position in Procter & Gamble during the second quarter worth about $36,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Stock Up 0.1 %

PG traded up $0.21 on Tuesday, reaching $169.75. The company’s stock had a trading volume of 3,513,314 shares, compared to its average volume of 6,671,519. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $177.94. The stock has a 50 day moving average of $171.82 and a two-hundred day moving average of $167.33. The company has a market capitalization of $400.63 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.74 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same period last year, the business earned $1.83 EPS. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Analysts Set New Price Targets

Several brokerages have recently commented on PG. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Monday. Citigroup increased their target price on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Susan Street Whaley sold 634 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 383,194 shares of company stock valued at $65,140,718 over the last quarter. Company insiders own 0.17% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.