Procter & Gamble Company (The) $PG Stock Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 20.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,453,244 shares of the company’s stock after selling 367,911 shares during the period. Russell Investments Group Ltd. owned 0.06% of Procter & Gamble worth $211,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Baxter Bros Inc. acquired a new position in Procter & Gamble in the second quarter valued at about $12,381,000. Allspring Global Investments Holdings LLC grew its position in shares of Procter & Gamble by 11.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 305,774 shares of the company’s stock worth $44,016,000 after buying an additional 32,100 shares during the period. Empowered Funds LLC acquired a new position in shares of Procter & Gamble during the 2nd quarter worth about $53,549,000. Capstone Capital Management Ltd bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at about $991,000. Finally, Bank of America Corp DE bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $3,850,628,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

More Procter & Gamble News

Investors following PG have been watching these news items:

• Positive Sentiment: Commentary highlights P&G’s essential household brands, strong cash generation and a 70-year streak of dividend increases; one article cited a recent yield of about 2.6%. These qualities may appeal to income-focused investors. Article: Procter & Gamble Has Raised Its Dividend for 70 Straight Years
• Neutral Sentiment: A valuation analysis questions whether P&G’s share price is supported by future cash flows, noting its 29.7% five-year return. The article raises a valuation question rather than offering a clear near-term catalyst. Article: Is Procter & Gamble Worth More Than Its Price Today?
• Negative Sentiment: CEO El Hak Hesham Abd sold 2,250 shares at an average of $168.47, reducing his direct holding by 20.06% to 8,968 shares. The transaction could raise concerns, though he retains a stake and a sale alone does not establish a change in the company’s outlook. SEC Form 4 filing

Procter & Gamble Trading Up 0.2%

NYSE:PG opened at $168.02 on Friday. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $170.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.72 and a quick ratio of 0.53. The stock has a market capitalization of $389.43 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 4.12 and a beta of 0.36. The business’s 50-day simple moving average is $153.80 and its 200-day simple moving average is $149.82.

Procter & Gamble (NYSE:PG) last posted its earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. The business had revenue of $23.28 billion during the quarter, compared to analysts’ expectations of $22.80 billion. Procter & Gamble had a return on equity of 31.02% and a net margin of 18.23%. Procter & Gamble’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.99 EPS. Sell-side analysts expect that Procter & Gamble Company will post 6.99 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 23rd will be issued a dividend of $1.0885 per share. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 23rd. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.51%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PG. Argus lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. UBS Group set a $166.00 target price on shares of Procter & Gamble in a research note on Friday, October 23rd. Citigroup increased their target price on shares of Procter & Gamble from $180.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. TD Cowen increased their target price on shares of Procter & Gamble from $150.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, October 23rd. Finally, BNP Paribas Exane lifted their price target on shares of Procter & Gamble from $177.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.57.

Insiders Place Their Bets

In other news, CEO El Hak Hesham Abd sold 2,250 shares of the business’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $168.47, for a total value of $379,057.50. Following the sale, the chief executive officer directly owned 8,968 shares in the company, valued at $1,510,838.96. The trade was a 20.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victor Aguilar sold 18,812 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $164.43, for a total value of $3,093,257.16. Following the transaction, the insider owned 55,243 shares of the company’s stock, valued at approximately $9,083,606.49. The trade was a 25.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 200,006 shares of company stock worth $32,715,058 in the last ninety days. 0.23% of the stock is owned by insiders.

About Procter & Gamble

The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.