KLP Kapitalforvaltning AS Takes $160.63 Million Position in The Procter & Gamble Company (NYSE:PG)

KLP Kapitalforvaltning AS purchased a new stake in shares of The Procter & Gamble Company (NYSE:PG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 958,129 shares of the company’s stock, valued at approximately $160,630,000. Procter & Gamble accounts for 0.8% of KLP Kapitalforvaltning AS’s portfolio, making the stock its 16th biggest holding.

A number of other large investors have also made changes to their positions in PG. NewSquare Capital LLC increased its stake in Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble in the 3rd quarter valued at approximately $33,000. LFA Lugano Financial Advisors SA acquired a new position in Procter & Gamble in the 4th quarter valued at approximately $34,000. Atlantic Private Wealth LLC grew its position in Procter & Gamble by 95.3% in the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after acquiring an additional 101 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Procter & Gamble in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Down 0.6 %

Shares of NYSE PG opened at $166.60 on Friday. The firm has a market capitalization of $390.66 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The firm’s 50-day moving average is $167.97 and its 200-day moving average is $169.72.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same quarter last year, the firm earned $1.84 EPS. Procter & Gamble’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.42%. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.01%.

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,450 shares of company stock worth $23,988,008. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on PG shares. Wells Fargo & Company boosted their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. JPMorgan Chase & Co. decreased their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Piper Sandler decreased their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Finally, Barclays increased their price target on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.47.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.