Compass Financial Management LLC acquired a new position in shares of Procter & Gamble Company (The) (NYSE:PG – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,435 shares of the company’s stock, valued at approximately $802,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PG. Elevation Point Wealth Partners LLC raised its stake in Procter & Gamble by 18.9% in the second quarter. Elevation Point Wealth Partners LLC now owns 93,187 shares of the company’s stock valued at $13,665,000 after purchasing an additional 14,783 shares in the last quarter. Daiichi Life Insurance Co. Ltd. lifted its position in Procter & Gamble by 6.0% during the second quarter. Daiichi Life Insurance Co. Ltd. now owns 199,556 shares of the company’s stock worth $29,263,000 after purchasing an additional 11,342 shares during the period. Foyston Gordon & Payne Inc grew its stake in Procter & Gamble by 20.7% during the second quarter. Foyston Gordon & Payne Inc now owns 25,749 shares of the company’s stock worth $3,856,000 after buying an additional 4,421 shares in the last quarter. Strategic Wealth Partners Ltd. increased its holdings in Procter & Gamble by 1.6% in the 2nd quarter. Strategic Wealth Partners Ltd. now owns 5,800 shares of the company’s stock valued at $850,000 after buying an additional 92 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at approximately $5,005,000. 65.77% of the stock is owned by institutional investors and hedge funds.
Procter & Gamble Price Performance
PG stock opened at $145.02 on Thursday. The stock has a market cap of $337.09 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 4.48 and a beta of 0.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.47. The company has a 50 day simple moving average of $147.41 and a 200 day simple moving average of $148.42. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $167.25.
Procter & Gamble Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were given a dividend of $1.0885 per share. The ex-dividend date was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. Procter & Gamble’s payout ratio is currently 65.71%.
Insiders Place Their Bets
In other Procter & Gamble news, insider Marc S. Pritchard sold 4,030 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $579,473.70. Following the completion of the transaction, the insider directly owned 187,001 shares in the company, valued at approximately $26,888,873.79. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew W. Janzaruk sold 359 shares of Procter & Gamble stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $145.24, for a total value of $52,141.16. Following the sale, the chief accounting officer directly owned 1,271 shares in the company, valued at $184,600.04. The trade was a 22.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,627 shares of company stock valued at $953,417 in the last 90 days. Corporate insiders own 0.20% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on PG. Barclays upped their price target on shares of Procter & Gamble from $146.00 to $152.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 21st. Citigroup lowered their price objective on shares of Procter & Gamble from $181.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Jefferies Financial Group raised their target price on Procter & Gamble from $177.00 to $179.00 and gave the company a “buy” rating in a report on Friday, June 26th. HSBC reiterated a “hold” rating and issued a $149.00 price target (down from $182.00) on shares of Procter & Gamble in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Procter & Gamble in a report on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.19.
Check Out Our Latest Stock Report on Procter & Gamble
About Procter & Gamble
Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.
P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
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