SouthState Corp Sells 1,327 Shares of The Procter & Gamble Company (NYSE:PG)

SouthState Corp reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,668 shares of the company’s stock after selling 1,327 shares during the quarter. SouthState Corp’s holdings in Procter & Gamble were worth $13,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Berkshire Asset Management LLC PA increased its stake in Procter & Gamble by 0.9% during the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock valued at $38,833,000 after purchasing an additional 2,179 shares in the last quarter. Strategic Advisors LLC increased its stake in Procter & Gamble by 3.4% during the 4th quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock valued at $9,374,000 after purchasing an additional 1,818 shares in the last quarter. Copley Financial Group Inc. bought a new stake in Procter & Gamble during the 3rd quarter valued at about $668,000. Fortem Financial Group LLC bought a new stake in Procter & Gamble during the 4th quarter valued at about $569,000. Finally, Richard C. Young & CO. LTD. increased its stake in Procter & Gamble by 2.1% during the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock valued at $20,764,000 after purchasing an additional 2,568 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares in the company, valued at $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred 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 sale, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $23,988,008 over the last quarter. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Piper Sandler reduced their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company raised their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. DA Davidson reaffirmed a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Stifel Nicolaus raised their price target on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.47.

Procter & Gamble Price Performance

NYSE PG opened at $168.20 on Monday. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43. The stock has a market cap of $394.39 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.76 and a beta of 0.41. The company’s 50 day moving average is $167.27 and its two-hundred day moving average is $169.81. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last released its 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 net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter last year, the business earned $1.84 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, research 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 announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

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.