Prospector Partners LLC Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

Prospector Partners LLC cut its position in The Procter & Gamble Company (NYSE:PG) by 19.1% in the third quarter, Holdings Channel reports. The firm owned 30,895 shares of the company’s stock after selling 7,280 shares during the period. Prospector Partners LLC’s holdings in Procter & Gamble were worth $5,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PG. FMR LLC increased its holdings in shares of Procter & Gamble by 2.7% in the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after purchasing an additional 689,282 shares during the period. Legal & General Group Plc increased its stake in Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after buying an additional 122,190 shares during the period. Fisher Asset Management LLC raised its position in Procter & Gamble by 4.7% during the 3rd quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock worth $3,183,522,000 after buying an additional 830,476 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Procter & Gamble by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,422,470 shares of the company’s stock worth $2,844,442,000 after acquiring an additional 105,734 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Procter & Gamble by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after acquiring an additional 733,440 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other news, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the transaction, the chief executive officer now owns 263,537 shares in the company, valued at $44,508,763.93. The trade was a 12.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,473 shares of company stock worth $12,313,697 in the last three months. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $177.40 on Tuesday. The company has a 50-day simple moving average of $170.04 and a 200-day simple moving average of $168.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The company has a market cap of $417.78 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 3.81 and a beta of 0.42. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $178.82.

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

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.31%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PG. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Piper Sandler initiated coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Thursday, August 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $180.45.

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.