Elo Mutual Pension Insurance Co Cuts Holdings in The Procter & Gamble Company (NYSE:PG)

Elo Mutual Pension Insurance Co lessened its position in The Procter & Gamble Company (NYSE:PG) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 214,430 shares of the company’s stock after selling 9,889 shares during the quarter. Procter & Gamble accounts for 0.8% of Elo Mutual Pension Insurance Co’s portfolio, making the stock its 21st largest position. Elo Mutual Pension Insurance Co’s holdings in Procter & Gamble were worth $35,949,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. NewSquare Capital LLC increased its holdings in Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after acquiring an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble during the 3rd quarter worth about $33,000. LFA Lugano Financial Advisors SA acquired a new stake in Procter & Gamble in the 4th quarter valued at about $34,000. Atlantic Private Wealth LLC raised its position in shares of Procter & Gamble by 95.3% during the 4th quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after acquiring an additional 101 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new position in shares of Procter & Gamble during the fourth quarter worth approximately $39,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price target on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their target price on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Barclays lifted their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.47.

Insider Buying and Selling

In related news, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Performance

NYSE:PG opened at $166.48 on Thursday. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $168.31 and its 200-day moving average price is $169.47. The company has a market cap of $390.38 billion, a P/E ratio of 26.51, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.