New England Asset Management Inc. Acquires 200 Shares of The Procter & Gamble Company (NYSE:PG)

New England Asset Management Inc. grew its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,285 shares of the company’s stock after buying an additional 200 shares during the quarter. Procter & Gamble accounts for approximately 1.4% of New England Asset Management Inc.’s portfolio, making the stock its 15th largest holding. New England Asset Management Inc.’s holdings in Procter & Gamble were worth $9,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PG. Legal & General Group Plc boosted its position in Procter & Gamble by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after buying an additional 122,190 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Procter & Gamble by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock worth $1,598,510,000 after purchasing an additional 733,440 shares during the period. Swiss National Bank increased its holdings in Procter & Gamble by 0.6% during the 3rd quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after purchasing an additional 39,000 shares during the period. Janus Henderson Group PLC raised its position in Procter & Gamble by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after purchasing an additional 79,665 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Procter & Gamble by 1.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,716,799 shares of the company’s stock worth $990,150,000 after buying an additional 72,851 shares during the period. Institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PG. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. Piper Sandler initiated coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Finally, Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Nine 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Stock Performance

Shares of PG stock opened at $170.80 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The company has a market capitalization of $402.24 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The company’s 50-day moving average is $170.21 and its 200 day moving average is $168.45.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Sell-side analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Insider Buying and Selling at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the transaction, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 270,727 shares of company stock valued at $46,014,037. 0.18% of the stock is owned by company insiders.

Procter & Gamble Profile

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.