Prospector Partners LLC Reduces Position in The Procter & Gamble Company (NYSE:PG)

Prospector Partners LLC lowered its holdings in The Procter & Gamble Company (NYSE:PG) by 19.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,895 shares of the company’s stock after selling 7,280 shares during the period. Prospector Partners LLC’s holdings in Procter & Gamble were worth $5,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Procter & Gamble by 19,030.8% in the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after purchasing an additional 3,674,286 shares during the last quarter. Wulff Hansen & CO. lifted its stake in shares of Procter & Gamble by 16,292.0% in the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock valued at $606,230,000 after acquiring an additional 3,653,477 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Procter & Gamble in the third quarter valued at approximately $301,950,000. AMF Tjanstepension AB boosted its stake in shares of Procter & Gamble by 416.1% during the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after purchasing an additional 1,466,115 shares during the period. Finally, Swedbank AB purchased a new position in shares of Procter & Gamble in the first quarter worth $233,788,000. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a research note on Monday, September 30th. Wells Fargo & Company upped their target price on Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday. DA Davidson upgraded shares of Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price target for the stock from $160.00 to $209.00 in a research note on Monday. Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Finally, DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $180.45.

Insider Activity

In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the transaction, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. This trade represents a 12.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Susan Street Whaley sold 634 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,473 shares of company stock valued at $12,313,697. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Stock Performance

PG opened at $177.40 on Tuesday. The firm’s fifty day simple moving average is $170.04 and its two-hundred day simple moving average is $168.74. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $178.82. The company has a market cap of $417.78 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 3.81 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating 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 the consensus estimate of $21.99 billion. During the same period in the prior year, the company earned $1.83 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Equities analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.27%. Procter & Gamble’s dividend payout ratio is presently 69.31%.

Procter & Gamble Company 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.