Legal & General Group Plc decreased its position in The Procter & Gamble Company (NYSE:PG) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,794,305 shares of the company’s stock after selling 275,488 shares during the quarter. The Procter & Gamble makes up 0.8% of Legal & General Group Plc’s portfolio, making the stock its 14th biggest position. Legal & General Group Plc’s holdings in The Procter & Gamble were worth $2,266,054,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Paragon Wealth Strategies LLC purchased a new position in The Procter & Gamble in the second quarter worth about $33,000. KB Financial Partners LLC purchased a new position in The Procter & Gamble in the first quarter worth about $41,000. Aspire Private Capital LLC boosted its position in The Procter & Gamble by 85.3% in the first quarter. Aspire Private Capital LLC now owns 430 shares of the company’s stock worth $58,000 after purchasing an additional 198 shares during the last quarter. Cowen Prime Advisors LLC purchased a new position in The Procter & Gamble in the second quarter worth about $67,000. Finally, Wagner Wealth Management LLC purchased a new position in shares of The Procter & Gamble during the 1st quarter valued at about $79,000. Hedge funds and other institutional investors own 62.51% of the company’s stock.
PG stock traded down $0.92 during mid-day trading on Tuesday, reaching $140.74. 91,945 shares of the company’s stock were exchanged, compared to its average volume of 7,942,795. The company has a market cap of $341.76 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. The stock’s 50 day moving average is $142.86 and its 200 day moving average is $137.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.70 and a quick ratio of 0.52. The Procter & Gamble Company has a 12-month low of $121.54 and a 12-month high of $147.23.
The company also recently announced a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Friday, July 23rd were given a $0.8698 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, July 22nd. This is an increase from The Procter & Gamble’s previous quarterly dividend of $0.66. The Procter & Gamble’s dividend payout ratio (DPR) is 61.48%.
In other The Procter & Gamble news, CAO Michael G. Homan sold 667 shares of the firm’s stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $144.37, for a total transaction of $96,294.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary A. Coombe sold 20,000 shares of The Procter & Gamble stock in a transaction on Friday, August 20th. The shares were sold at an average price of $145.22, for a total value of $2,904,400.00. Following the completion of the sale, the chief executive officer now directly owns 33,835 shares of the company’s stock, valued at $4,913,518.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 748,024 shares of company stock worth $106,760,698. Company insiders own 0.51% of the company’s stock.
PG has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on The Procter & Gamble from $130.00 to $139.00 and gave the company a “sector perform” rating in a research note on Monday, August 2nd. Erste Group upgraded The Procter & Gamble from a “hold” rating to a “buy” rating in a report on Friday, August 20th. Truist upped their price objective on The Procter & Gamble from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Monday, August 2nd. UBS Group began coverage on The Procter & Gamble in a research note on Wednesday, June 23rd. They set a “neutral” rating and a $138.00 price objective for the company. Finally, Zacks Investment Research upgraded The Procter & Gamble from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a research note on Tuesday, July 20th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $151.63.
The Procter & Gamble Profile
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.
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