Royal London Asset Management Ltd. lowered its stake in Procter & Gamble Co (NYSE:PG) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 977,804 shares of the company’s stock after selling 23,735 shares during the period. Procter & Gamble comprises 1.0% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 14th biggest position. Royal London Asset Management Ltd.’s holdings in Procter & Gamble were worth $107,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Villere ST Denis J & Co. LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at about $200,000. Sequoia Financial Advisors LLC increased its holdings in shares of Procter & Gamble by 2.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 34,591 shares of the company’s stock valued at $3,793,000 after acquiring an additional 754 shares during the last quarter. Weatherly Asset Management L. P. increased its holdings in shares of Procter & Gamble by 2.0% in the 2nd quarter. Weatherly Asset Management L. P. now owns 41,768 shares of the company’s stock valued at $4,580,000 after acquiring an additional 802 shares during the last quarter. Aperio Group LLC increased its holdings in shares of Procter & Gamble by 6.0% in the 2nd quarter. Aperio Group LLC now owns 1,814,944 shares of the company’s stock valued at $199,009,000 after acquiring an additional 102,143 shares during the last quarter. Finally, Highstreet Asset Management Inc. increased its holdings in shares of Procter & Gamble by 60.4% in the 2nd quarter. Highstreet Asset Management Inc. now owns 15,640 shares of the company’s stock valued at $1,715,000 after acquiring an additional 5,892 shares during the last quarter. Institutional investors and hedge funds own 62.17% of the company’s stock.
PG opened at $117.39 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.75 and a quick ratio of 0.58. The business has a 50 day simple moving average of $114.68 and a 200-day simple moving average of $106.59. The stock has a market capitalization of $293.39 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.40 and a beta of 0.45. Procter & Gamble Co has a 12 month low of $78.49 and a 12 month high of $121.76.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a $0.7459 dividend. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $2.98 annualized dividend and a dividend yield of 2.54%. Procter & Gamble’s dividend payout ratio is currently 65.93%.
A number of research firms have recently commented on PG. Barclays upgraded Procter & Gamble from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $94.00 to $112.00 in a report on Wednesday, April 24th. Wells Fargo & Co reiterated a “buy” rating and issued a $135.00 price objective (up previously from $125.00) on shares of Procter & Gamble in a report on Tuesday, July 30th. Morgan Stanley set a $129.00 price objective on Procter & Gamble and gave the company a “buy” rating in a report on Monday. Deutsche Bank increased their price objective on Procter & Gamble from $106.00 to $109.00 and gave the company a “hold” rating in a report on Monday, June 17th. Finally, Credit Suisse Group raised their price target on Procter & Gamble from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $108.15.
In other news, insider Carolyn M. Tastad sold 25,645 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $106.08, for a total value of $2,720,421.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Valarie L. Sheppard sold 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $120.20, for a total value of $2,043,400.00. The disclosure for this sale can be found here. Insiders sold a total of 137,817 shares of company stock valued at $15,669,439 over the last three months. Insiders own 1.84% of the company’s stock.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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