Procter & Gamble Co (PG) Stake Increased by Legal & General Group Plc

Legal & General Group Plc lifted its position in Procter & Gamble Co (NYSE:PG) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,510,696 shares of the company’s stock after acquiring an additional 205,011 shares during the quarter. Procter & Gamble makes up approximately 0.7% of Legal & General Group Plc’s portfolio, making the stock its 20th largest position. Legal & General Group Plc owned about 0.50% of Procter & Gamble worth $1,041,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Waldron Private Wealth LLC lifted its holdings in Procter & Gamble by 9.3% during the third quarter. Waldron Private Wealth LLC now owns 13,170 shares of the company’s stock valued at $1,096,000 after purchasing an additional 1,126 shares during the last quarter. Sawgrass Asset Management LLC lifted its holdings in Procter & Gamble by 6.3% during the third quarter. Sawgrass Asset Management LLC now owns 11,126 shares of the company’s stock valued at $926,000 after purchasing an additional 655 shares during the last quarter. Lincluden Management Ltd. lifted its holdings in Procter & Gamble by 45.7% during the third quarter. Lincluden Management Ltd. now owns 166,206 shares of the company’s stock valued at $13,833,000 after purchasing an additional 52,160 shares during the last quarter. B. Riley Wealth Management Inc. purchased a new stake in Procter & Gamble during the third quarter valued at about $1,338,000. Finally, TIAA CREF Investment Management LLC lifted its holdings in Procter & Gamble by 23.8% during the third quarter. TIAA CREF Investment Management LLC now owns 10,793,640 shares of the company’s stock valued at $898,355,000 after purchasing an additional 2,078,176 shares during the last quarter. Hedge funds and other institutional investors own 60.74% of the company’s stock.

Several equities research analysts have commented on the stock. Macquarie set a $110.00 price objective on shares of Procter & Gamble and gave the company a “buy” rating in a report on Tuesday, February 26th. Barclays reaffirmed a “hold” rating and set a $94.00 price objective on shares of Procter & Gamble in a report on Friday, January 25th. Zacks Investment Research raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Monday, January 21st. Evercore ISI initiated coverage on shares of Procter & Gamble in a report on Thursday, January 10th. They issued an “outperform” rating and a $105.00 price target on the stock. Finally, Bank of America raised shares of Procter & Gamble from a “neutral” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Thursday, December 13th. Thirteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Procter & Gamble has a consensus rating of “Hold” and a consensus price target of $96.21.

Shares of Procter & Gamble stock opened at $102.44 on Friday. Procter & Gamble Co has a 12-month low of $70.73 and a 12-month high of $102.89. The stock has a market capitalization of $258.25 billion, a PE ratio of 24.27, a PEG ratio of 3.26 and a beta of 0.38. The company has a current ratio of 0.78, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 23rd. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.04. The business had revenue of $17.44 billion for the quarter, compared to the consensus estimate of $17.16 billion. Procter & Gamble had a net margin of 16.13% and a return on equity of 21.41%. Procter & Gamble’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $1.19 earnings per share. On average, analysts anticipate that Procter & Gamble Co will post 4.46 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Friday, January 18th were paid a $0.7172 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Thursday, January 17th. Procter & Gamble’s dividend payout ratio is currently 68.01%.

In related news, insider Gary A. Coombe sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $93.90, for a total value of $845,100.00. Following the sale, the insider now directly owns 18,517 shares of the company’s stock, valued at $1,738,746.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Jon R. Moeller sold 3,224 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $98.57, for a total transaction of $317,789.68. The disclosure for this sale can be found here. Insiders sold 2,270,496 shares of company stock worth $224,931,027 over the last ninety days. 1.84% of the stock is currently owned by insiders.

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About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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