DnB Asset Management AS Has $77.06 Million Position in The Procter & Gamble Company (NYSE:PG)

DnB Asset Management AS grew its stake in shares of The Procter & Gamble Company (NYSE:PG) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 459,646 shares of the company’s stock after purchasing an additional 29,240 shares during the period. DnB Asset Management AS’s holdings in Procter & Gamble were worth $77,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Berkshire Asset Management LLC PA grew its holdings in shares of Procter & Gamble by 0.9% during the fourth quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock valued at $38,833,000 after buying an additional 2,179 shares during the last quarter. Strategic Advisors LLC boosted its holdings in Procter & Gamble by 3.4% during the 4th quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock worth $9,374,000 after acquiring an additional 1,818 shares during the last quarter. Copley Financial Group Inc. bought a new stake in shares of Procter & Gamble in the 3rd quarter worth $668,000. Fortem Financial Group LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $569,000. Finally, Richard C. Young & CO. LTD. boosted its holdings in Procter & Gamble by 2.1% during the fourth quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock worth $20,764,000 after purchasing an additional 2,568 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

PG has been the subject of several research analyst reports. DA Davidson reaffirmed a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a report on Thursday. Piper Sandler decreased their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $181.82.

Procter & Gamble Stock Up 1.4 %

Shares of NYSE:PG opened at $168.85 on Friday. The stock has a market capitalization of $395.92 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The stock’s 50-day moving average price is $168.47 and its 200-day moving average price is $169.46. 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 Procter & Gamble Company has a 12-month low of $153.52 and a 12-month high of $180.43.

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

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

Insider Activity

In related news, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction 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 directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,450 shares of company stock valued at $23,988,008. Insiders own 0.18% of the company’s stock.

Procter & Gamble 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.