Allen Capital Group LLC Grows Stock Position in The Procter & Gamble Company (NYSE:PG)

Allen Capital Group LLC grew its position in The Procter & Gamble Company (NYSE:PG) by 5.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,479 shares of the company’s stock after acquiring an additional 414 shares during the quarter. Allen Capital Group LLC’s holdings in Procter & Gamble were worth $1,469,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in Procter & Gamble by 5.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 32,001 shares of the company’s stock worth $5,192,000 after buying an additional 1,657 shares in the last quarter. Quent Capital LLC lifted its position in Procter & Gamble by 2.0% during the first quarter. Quent Capital LLC now owns 10,684 shares of the company’s stock worth $1,733,000 after buying an additional 206 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Procter & Gamble by 6.6% during the first quarter. Westwood Holdings Group Inc. now owns 7,158 shares of the company’s stock worth $1,161,000 after buying an additional 446 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its position in Procter & Gamble by 59.8% during the first quarter. Steel Grove Capital Advisors LLC now owns 4,627 shares of the company’s stock worth $751,000 after buying an additional 1,732 shares in the last quarter. Finally, Tremblant Capital Group lifted its position in Procter & Gamble by 75.8% during the first quarter. Tremblant Capital Group now owns 10,252 shares of the company’s stock worth $1,663,000 after buying an additional 4,420 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Sandler assumed coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI raised their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a research note on Monday, September 30th. Finally, Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Insider Activity

In related news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, 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 the SEC website. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 owns 19,341 shares in the company, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 160,693 shares of company stock valued at $27,311,345. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 1.0 %

Shares of NYSE PG opened at $172.68 on Friday. The company has a market capitalization of $406.67 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 3.69 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The business has a 50-day moving average of $170.00 and a two-hundred day moving average of $168.54. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94.

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

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.48%.

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.