Cidel Asset Management Inc. Takes $17.03 Million Position in The Procter & Gamble Company (NYSE:PG)

Cidel Asset Management Inc. acquired a new position in The Procter & Gamble Company (NYSE:PG) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 126,234 shares of the company’s stock, valued at approximately $17,033,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. abrdn plc lifted its stake in shares of The Procter & Gamble by 15.3% during the second quarter. abrdn plc now owns 4,218,497 shares of the company’s stock valued at $569,201,000 after buying an additional 559,945 shares during the period. MONECO Advisors LLC raised its holdings in shares of The Procter & Gamble by 1.5% during the 2nd quarter. MONECO Advisors LLC now owns 6,053 shares of the company’s stock valued at $817,000 after buying an additional 88 shares during the period. Financial Architects Inc boosted its stake in shares of The Procter & Gamble by 15.7% in the second quarter. Financial Architects Inc now owns 9,764 shares of the company’s stock valued at $1,317,000 after purchasing an additional 1,323 shares during the period. Wintrust Investments LLC increased its position in shares of The Procter & Gamble by 1.6% during the second quarter. Wintrust Investments LLC now owns 9,846 shares of the company’s stock worth $1,329,000 after acquiring an additional 157 shares during the last quarter. Finally, Brighton Jones LLC increased its holdings in The Procter & Gamble by 6.1% during the 2nd quarter. Brighton Jones LLC now owns 13,804 shares of the company’s stock worth $1,863,000 after purchasing an additional 793 shares during the last quarter. Hedge funds and other institutional investors own 62.51% of the company’s stock.

A number of equities analysts have commented on the company. Citigroup lifted their target price on The Procter & Gamble from $150.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, August 2nd. Erste Group upgraded shares of The Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Friday, August 20th. Royal Bank of Canada upped their price target on shares of The Procter & Gamble from $130.00 to $139.00 and gave the company a “sector perform” rating in a report on Monday, August 2nd. UBS Group began coverage on The Procter & Gamble in a research report on Wednesday, June 23rd. They issued a “neutral” rating and a $138.00 price target for the company. Finally, Truist lifted their price target on The Procter & Gamble from $140.00 to $145.00 and gave the company a “hold” rating in a report on Monday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, The Procter & Gamble has an average rating of “Hold” and a consensus price target of $151.63.

The Procter & Gamble stock traded up $0.04 during mid-day trading on Wednesday, reaching $145.47. The stock had a trading volume of 212,262 shares, compared to its average volume of 7,949,646. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.52 and a current ratio of 0.70. The Procter & Gamble Company has a fifty-two week low of $121.54 and a fifty-two week high of $147.23. The firm has a market capitalization of $353.25 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43. The stock’s 50-day simple moving average is $141.87 and its 200-day simple moving average is $136.63.

The Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Thursday, July 29th. The company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.05. The Procter & Gamble had a return on equity of 31.49% and a net margin of 18.80%. The business had revenue of $18.95 billion for the quarter, compared to the consensus estimate of $18.38 billion. During the same quarter last year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts forecast that The Procter & Gamble Company will post 5.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Friday, July 23rd were given a dividend of $0.8698 per share. The ex-dividend date was Thursday, July 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.39%. This is a boost from The Procter & Gamble’s previous quarterly dividend of $0.66. The Procter & Gamble’s payout ratio is currently 61.48%.

In related news, CEO Shailesh Jejurikar sold 22,344 shares of the stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $142.75, for a total transaction of $3,189,606.00. Following the transaction, the chief executive officer now owns 38,466 shares in the company, valued at $5,491,021.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael G. Homan sold 667 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $144.37, for a total transaction of $96,294.79. The disclosure for this sale can be found here. Insiders have sold 748,024 shares of company stock worth $106,760,698 over the last 90 days. 0.51% of the stock is currently owned by corporate insiders.

About The 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 & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.

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

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