Assenagon Asset Management S.A. cut its stake in shares of Procter & Gamble Co (NYSE:PG) by 34.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,207 shares of the company’s stock after selling 28,650 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Procter & Gamble were worth $4,231,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. MUFG Americas Holdings Corp increased its holdings in Procter & Gamble by 1.8% in the 4th quarter. MUFG Americas Holdings Corp now owns 544,649 shares of the company’s stock valued at $50,043,000 after purchasing an additional 9,512 shares in the last quarter. Squar Milner Financial Services LLC purchased a new position in Procter & Gamble in the 4th quarter valued at about $260,000. RFG Advisory Group LLC boosted its position in Procter & Gamble by 28.5% in the 4th quarter. RFG Advisory Group LLC now owns 5,830 shares of the company’s stock valued at $535,000 after buying an additional 1,293 shares during the last quarter. Arizona State Retirement System boosted its position in Procter & Gamble by 2.4% in the 4th quarter. Arizona State Retirement System now owns 668,642 shares of the company’s stock valued at $61,435,000 after buying an additional 15,403 shares during the last quarter. Finally, Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in Procter & Gamble in the 4th quarter valued at about $780,000. Hedge funds and other institutional investors own 58.49% of the company’s stock.
Shares of PG stock opened at $83.45 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.66 and a debt-to-equity ratio of 0.40. Procter & Gamble Co has a one year low of $70.73 and a one year high of $94.67. The stock has a market cap of $206.75 billion, a PE ratio of 19.77, a P/E/G ratio of 2.64 and a beta of 0.57.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 31st. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Procter & Gamble had a net margin of 14.59% and a return on equity of 20.94%. The business had revenue of $16.50 billion for the quarter, compared to analysts’ expectations of $16.52 billion. During the same quarter last year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. analysts anticipate that Procter & Gamble Co will post 4.42 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Friday, July 20th were given a dividend of $0.7172 per share. The ex-dividend date was Thursday, July 19th. This represents a $2.87 annualized dividend and a dividend yield of 3.44%. Procter & Gamble’s payout ratio is 68.01%.
In other news, insider Kathleen B. Fish sold 26,946 shares of the stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $80.55, for a total transaction of $2,170,500.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Juan Fernando Posada sold 9,600 shares of the stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $81.79, for a total transaction of $785,184.00. The disclosure for this sale can be found here. Insiders have sold 147,186 shares of company stock worth $12,080,849 in the last ninety days. Corporate insiders own 1.84% of the company’s stock.
A number of research firms have weighed in on PG. Wells Fargo & Co reissued a “hold” rating and issued a $78.00 price objective on shares of Procter & Gamble in a research report on Thursday, August 16th. ValuEngine raised shares of Procter & Gamble from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Deutsche Bank upped their price objective on shares of Procter & Gamble from $84.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, August 16th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $88.00 price objective on shares of Procter & Gamble in a research report on Wednesday, August 1st. Finally, SunTrust Banks upped their price objective on shares of Procter & Gamble to $80.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Procter & Gamble currently has an average rating of “Hold” and an average target price of $85.09.
Procter & Gamble 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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