iA Global Asset Management Inc. Boosts Stock Position in The Procter & Gamble Company (NYSE:PG)

iA Global Asset Management Inc. grew its stake in The Procter & Gamble Company (NYSE:PG) by 14.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,723 shares of the company’s stock after purchasing an additional 12,859 shares during the period. iA Global Asset Management Inc.’s holdings in Procter & Gamble were worth $16,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Swedbank AB grew its position in Procter & Gamble by 3.9% in the third quarter. Swedbank AB now owns 1,503,647 shares of the company’s stock worth $260,432,000 after acquiring an additional 56,583 shares during the period. Howard Capital Management Group LLC grew its position in Procter & Gamble by 1.0% in the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock worth $1,442,000 after acquiring an additional 82 shares during the period. Principal Financial Group Inc. grew its position in Procter & Gamble by 14.7% in the third quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock worth $820,031,000 after acquiring an additional 608,168 shares during the period. United Bank grew its position in Procter & Gamble by 1.7% in the third quarter. United Bank now owns 13,367 shares of the company’s stock worth $2,315,000 after acquiring an additional 219 shares during the period. Finally, Quest Partners LLC grew its position in Procter & Gamble by 3,831.2% in the third quarter. Quest Partners LLC now owns 8,688 shares of the company’s stock worth $1,505,000 after acquiring an additional 8,467 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Up 0.6 %

Shares of NYSE PG opened at $168.66 on Thursday. The company has a market capitalization of $395.47 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The business has a 50-day moving average of $167.71 and a two-hundred day moving average of $169.77. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (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 company had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same period in the previous year, the business earned $1.84 EPS. Procter & Gamble’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s payout ratio is currently 64.01%.

Insider Activity

In related news, CEO Gary A. Coombe sold 35,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares in the company, valued at $3,829,817.68. The trade was a 61.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the transaction, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 143,450 shares of company stock valued at $23,988,008. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on PG shares. JPMorgan Chase & Co. lowered their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Piper Sandler lowered their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Stifel Nicolaus raised their price target on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Barclays raised their price target on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company raised their price target on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.47.

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.