Assenagon Asset Management S.A. Decreases Stake in The Procter & Gamble Company (NYSE:PG)

Assenagon Asset Management S.A. lessened its holdings in The Procter & Gamble Company (NYSE:PG) by 11.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,107,742 shares of the company’s stock after selling 149,682 shares during the period. Assenagon Asset Management S.A.’s holdings in Procter & Gamble were worth $185,713,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC increased its holdings in 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 buying an additional 3,674,286 shares during the last quarter. Geode Capital Management LLC increased its stake 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 worth $9,538,327,000 after purchasing an additional 3,619,466 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after purchasing an additional 1,760,214 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Procter & Gamble in the third quarter valued at approximately $301,950,000. Finally, AMF Tjanstepension AB grew its holdings in Procter & Gamble by 416.1% during the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after purchasing an additional 1,466,115 shares during the period. 65.77% of the stock is owned by institutional investors.

Insider Activity at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This represents a 12.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,439 shares of company stock valued at $13,317,460. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

NYSE PG opened at $159.75 on Thursday. The Procter & Gamble Company has a 52-week low of $146.28 and a 52-week high of $180.43. The company has a fifty day moving average of $169.40 and a 200-day moving average of $169.52. The company has a market capitalization of $376.22 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 EPS. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.94 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.52%. Procter & Gamble’s payout ratio is 69.31%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PG. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research note on Monday, September 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. Wells Fargo & Company dropped their price target on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Evercore ISI lifted their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Piper Sandler assumed coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, fourteen have assigned 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 an average target price of $179.75.

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.