Conning Inc. Cuts Stock Position in The Procter & Gamble Company (NYSE:PG)

Conning Inc. trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,260 shares of the company’s stock after selling 2,315 shares during the period. Procter & Gamble accounts for 1.3% of Conning Inc.’s holdings, making the stock its 22nd biggest position. Conning Inc.’s holdings in Procter & Gamble were worth $39,361,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PG. International Assets Investment Management LLC increased its position in shares of Procter & Gamble by 19,030.8% during the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after purchasing an additional 3,674,286 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Procter & Gamble by 16,292.0% during the second quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after buying an additional 3,653,477 shares in the last quarter. TD Asset Management Inc raised its position in shares of Procter & Gamble by 114.9% in the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock valued at $579,017,000 after buying an additional 1,907,716 shares during the last quarter. AMF Tjanstepension AB lifted its stake in shares of Procter & Gamble by 416.1% in the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after buying an additional 1,466,115 shares in the last quarter. Finally, Swedbank AB acquired a new position in Procter & Gamble during the first quarter worth about $233,788,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PG. Deutsche Bank Aktiengesellschaft raised their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Thursday, August 29th. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Trading Down 0.0 %

NYSE PG opened at $165.10 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The firm has a market cap of $388.82 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 3.57 and a beta of 0.42. The firm has a 50 day simple moving average of $171.62 and a 200-day simple moving average of $167.99. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 earnings per share. Equities research analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Activity

In related news, 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 value of $12,342,475.74. Following the sale, the chief executive officer now owns 263,158 shares of the company’s stock, valued at $45,002,649.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Procter & Gamble news, CEO Jon R. Moeller sold 72,174 shares of the firm’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 in the company, valued at $45,002,649.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the sale, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at $6,325,360. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 389,144 shares of company stock worth $66,184,385. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.