Magellan Asset Management Ltd Sells 4,491 Shares of The Procter & Gamble Company (NYSE:PG)

Magellan Asset Management Ltd lessened its stake in shares of The Procter & Gamble Company (NYSE:PG) by 20.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,050 shares of the company’s stock after selling 4,491 shares during the period. Magellan Asset Management Ltd’s holdings in Procter & Gamble were worth $2,858,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Berkshire Asset Management LLC PA increased its holdings in shares of Procter & Gamble by 0.9% in the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock worth $38,833,000 after purchasing an additional 2,179 shares in the last quarter. Strategic Advisors LLC lifted its stake in Procter & Gamble by 3.4% during the 4th quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock valued at $9,374,000 after acquiring an additional 1,818 shares during the period. Copley Financial Group Inc. purchased a new stake in shares of Procter & Gamble during the 3rd quarter valued at about $668,000. Fortem Financial Group LLC bought a new stake in shares of Procter & Gamble in the fourth quarter worth approximately $569,000. Finally, Richard C. Young & CO. LTD. raised its holdings in shares of Procter & Gamble by 2.1% during the fourth quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock valued at $20,764,000 after purchasing an additional 2,568 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. DA Davidson restated a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Finally, Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average target price of $181.82.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $169.74 on Thursday. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The company has a market capitalization of $398.02 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The stock’s fifty day moving average is $169.07 and its two-hundred day moving average is $169.27. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

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

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.01%.

Insiders Place Their Bets

In other news, insider Marc S. Pritchard sold 90,450 shares of the 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 transaction, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Company 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.