Procter & Gamble Company (The) $PG Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 6.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,519,062 shares of the company’s stock after selling 177,691 shares during the quarter. Fifth Third Bancorp’s holdings in Procter & Gamble were worth $365,969,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PG. BlackRock Inc. purchased a new stake in shares of Procter & Gamble in the second quarter valued at $27,862,105,000. Bank of America Corp DE acquired a new position in Procter & Gamble in the second quarter valued at $3,850,628,000. Bank of New York Mellon Corp purchased a new position in Procter & Gamble during the second quarter worth about $2,281,505,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Procter & Gamble during the second quarter worth about $1,480,650,000. Finally, Corient Private Wealth LP acquired a new stake in Procter & Gamble in the 2nd quarter worth about $335,908,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Matthew Janzaruk sold 9,479 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $163.00, for a total transaction of $1,545,077.00. Following the completion of the sale, the chief accounting officer owned 1,271 shares in the company, valued at approximately $207,173. The trade was a 88.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Raman sold 38,253 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $165.00, for a total transaction of $6,311,745.00. Following the sale, the chief executive officer directly owned 47,745 shares of the company’s stock, valued at approximately $7,877,925. This trade represents a 44.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 197,756 shares of company stock worth $32,336,001. 0.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Morgan Stanley lifted their price target on Procter & Gamble from $166.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. DZ Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Piper Sandler increased their price objective on shares of Procter & Gamble from $145.00 to $167.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. JPMorgan Chase & Co. raised their target price on shares of Procter & Gamble from $162.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Finally, BNP Paribas Exane boosted their target price on shares of Procter & Gamble from $177.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, October 23rd. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $170.57.

Procter & Gamble Trading Down 0.5%

Shares of PG opened at $167.79 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $388.91 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 4.15 and a beta of 0.36. The stock’s fifty day simple moving average is $153.39 and its 200 day simple moving average is $149.73. Procter & Gamble Company has a twelve month low of $137.62 and a twelve month high of $170.52.

Procter & Gamble (NYSE:PG) last issued its earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.11. Procter & Gamble had a return on equity of 31.02% and a net margin of 18.23%. The firm had revenue of $23.28 billion for the quarter, compared to analysts’ expectations of $22.80 billion. During the same quarter last year, the firm earned $1.99 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts forecast that Procter & Gamble Company will post 6.99 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be paid a $1.0885 dividend. This represents a $4.35 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 23rd. Procter & Gamble’s payout ratio is currently 65.51%.

About Procter & Gamble

The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.