The Manufacturers Life Insurance Company Reduces Holdings in Procter & Gamble Company (The) $PG

The Manufacturers Life Insurance Company reduced its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 31.6% during the second quarter, HoldingsChannel reports. The firm owned 1,341,390 shares of the company’s stock after selling 618,970 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Procter & Gamble were worth $196,704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PG. California State Teachers Retirement System lifted its holdings in Procter & Gamble by 14,323.0% in the 2nd quarter. California State Teachers Retirement System now owns 516,914,798 shares of the company’s stock worth $75,800,386,000 after buying an additional 513,330,829 shares in the last quarter. BlackRock Inc. purchased a new position in Procter & Gamble in the 2nd quarter valued at about $27,862,105,000. State Street Corp grew its stake in shares of Procter & Gamble by 1.0% during the fourth quarter. State Street Corp now owns 101,618,926 shares of the company’s stock valued at $14,563,008,000 after acquiring an additional 984,102 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Procter & Gamble by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 62,647,882 shares of the company’s stock worth $8,962,689,000 after acquiring an additional 1,974,556 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Procter & Gamble in the fourth quarter worth about $4,664,783,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Matthew Janzaruk sold 359 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $145.24, for a total transaction of $52,141.16. Following the sale, the chief accounting officer owned 1,271 shares in the company, valued at $184,600.04. This represents a 22.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Whaley sold 2,238 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $143.79, for a total value of $321,802.02. Following the completion of the transaction, the insider owned 26,989 shares of the company’s stock, valued at approximately $3,880,748.31. The trade was a 7.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 6,627 shares of company stock worth $953,417 over the last quarter. 0.23% of the stock is owned by company insiders.

Procter & Gamble Stock Performance

Shares of PG opened at $142.90 on Friday. The stock has a market capitalization of $331.90 billion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 3.54 and a beta of 0.39. The business’s fifty day moving average price is $146.45 and its 200 day moving average price is $147.32. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.47. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25.

Procter & Gamble (NYSE:PG) last released its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $21.20 billion during the quarter, compared to analyst estimates of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Equities research analysts forecast that Procter & Gamble Company will post 6.99 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were given a dividend of $1.0885 per share. This represents a $4.35 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, July 24th. Procter & Gamble’s dividend payout ratio is currently 65.71%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PG shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Procter & Gamble in a report on Wednesday, August 19th. Sanford C. Bernstein restated a “market perform” rating and set a $149.00 price objective on shares of Procter & Gamble in a report on Monday, August 24th. BMO Capital Markets increased their target price on Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Citigroup decreased their price target on shares of Procter & Gamble from $181.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Barclays lifted their price target on shares of Procter & Gamble from $146.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $161.19.

Procter & Gamble Profile

Procter & Gamble Company is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio spans beauty, grooming, health care, fabric and home care, and family care products.

The company’s brands include Tide, Ariel, Downy, Dawn, Febreze, Bounty, Charmin, Pampers, Gillette, Oral-B, Crest, Head & Shoulders, Olay and Pantene. These products are sold through retailers, e-commerce platforms and other distribution channels.

Procter & Gamble was founded in Cincinnati in 1837 by William Procter and James Gamble.