The Procter & Gamble Company (NYSE:PG) is First PREMIER Bank’s 8th Largest Position

First PREMIER Bank lowered its stake in shares of The Procter & Gamble Company (NYSE:PG) by 2.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 49,615 shares of the company’s stock after selling 1,483 shares during the quarter. Procter & Gamble accounts for 2.2% of First PREMIER Bank’s portfolio, making the stock its 8th biggest position. First PREMIER Bank’s holdings in Procter & Gamble were worth $8,184,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PG. Norges Bank bought a new position in Procter & Gamble in the 4th quarter worth about $3,956,117,000. TD Asset Management Inc increased its holdings in shares of Procter & Gamble by 114.9% in the 1st quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after buying an additional 1,907,716 shares during the last quarter. Swedbank AB purchased a new stake in shares of Procter & Gamble during the 1st quarter valued at $233,788,000. Ilex Capital Partners UK LLP bought a new stake in shares of Procter & Gamble during the 1st quarter worth $228,212,000. Finally, California Public Employees Retirement System grew its position in Procter & Gamble by 17.1% in the fourth quarter. California Public Employees Retirement System now owns 9,492,039 shares of the company’s stock worth $1,390,963,000 after acquiring an additional 1,387,539 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Trading Down 0.5 %

Shares of PG traded down $0.88 during mid-day trading on Thursday, hitting $167.92. 9,491,362 shares of the company’s stock traded hands, compared to its average volume of 6,681,171. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $396.31 billion, a P/E ratio of 27.44, a PEG ratio of 3.70 and a beta of 0.41. The business’s 50-day moving average price is $166.98 and its 200-day moving average price is $163.13. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $171.72.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. During the same quarter in the previous year, the business posted $1.37 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be issued a $1.0065 dividend. The ex-dividend date is Friday, July 19th. This represents a $4.03 annualized dividend and a yield of 2.40%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PG shares. Barclays dropped their target price on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Argus increased their target price on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, April 25th. BNP Paribas began coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.95.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Jon R. Moeller sold 72,174 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the sale, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at $45,002,649.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the sale, the chief executive officer now owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon R. Moeller sold 72,174 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the transaction, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at approximately $45,002,649.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,313 shares of company stock valued at $19,703,643. 0.17% of the stock is currently owned by corporate insiders.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.