Verity Asset Management Inc. Lowers Position in The Procter & Gamble Company (NYSE:PG)

Verity Asset Management Inc. trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG) by 8.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,838 shares of the company’s stock after selling 272 shares during the period. Verity Asset Management Inc.’s holdings in Procter & Gamble were worth $489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PG. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble in the 2nd quarter worth $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble in the second quarter worth about $29,000. Ruedi Wealth Management Inc. increased its stake in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in Procter & Gamble during the second quarter valued at approximately $34,000. Finally, Quest Partners LLC purchased a new stake in Procter & Gamble during the 2nd quarter valued at $36,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Up 1.5 %

PG stock opened at $163.41 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The stock has a market capitalization of $384.84 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 3.57 and a beta of 0.42. The firm has a 50 day moving average of $171.29 and a 200 day moving average of $168.13.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for 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%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. Sell-side analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.46%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PG shares. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upped their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Evercore ISI lifted their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, TD Cowen assumed coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target on the stock. Nine investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the transaction, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at $2,343,110. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,597 shares of company stock valued at $53,268,499. 0.18% of the stock is owned by insiders.

Procter & Gamble Company 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.