Busey Bank Raises Stake in The Procter & Gamble Company (NYSE:PG)

Busey Bank raised its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,984 shares of the company’s stock after buying an additional 1,265 shares during the quarter. Procter & Gamble comprises 1.0% of Busey Bank’s portfolio, making the stock its 22nd largest holding. Busey Bank’s holdings in Procter & Gamble were worth $31,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in shares of Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after acquiring an additional 3,619,466 shares during the last quarter. FMR LLC lifted its stake in shares of Procter & Gamble by 2.7% in the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after acquiring an additional 689,282 shares during the last quarter. Franklin Resources Inc. raised its holdings in Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after buying an additional 1,760,214 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Procter & Gamble by 4.7% during the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after acquiring an additional 830,476 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Procter & Gamble by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,422,470 shares of the company’s stock worth $2,844,442,000 after purchasing an additional 105,734 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Down 0.9 %

Shares of Procter & Gamble stock opened at $165.98 on Friday. The company has a 50-day simple moving average of $168.54 and a two-hundred day simple moving average of $169.38. The stock has a market capitalization of $389.20 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 3.73 and a beta of 0.45. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

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

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be issued a $1.0065 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.43%. Procter & Gamble’s payout ratio is 64.17%.

Wall Street Analyst Weigh In

PG has been the subject of several research analyst reports. Evercore ISI increased their price objective on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. Wells Fargo & Company boosted their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their price objective 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. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.53.

Insiders Place Their Bets

In other news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total value of $2,210,944.00. Following the completion of the sale, the insider now directly owns 11,595 shares of the company’s stock, valued at $2,002,804.35. The trade was a 52.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,097 shares of company stock valued at $25,635,076. 0.18% of the stock is owned by insiders.

About Procter & Gamble

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.