Legal & General Group Plc Sells 1,639,081 Shares of Procter & Gamble Company (The) $PG

Legal & General Group Plc lowered its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 10.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,564,948 shares of the company’s stock after selling 1,639,081 shares during the quarter. Legal & General Group Plc owned 0.63% of Procter & Gamble worth $2,135,804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. E Fund Management Hong Kong Co. Ltd. raised its position in Procter & Gamble by 1,000.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the period. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Procter & Gamble during the 2nd quarter valued at $26,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter worth about $26,000. Park Square Financial Group LLC grew its position in shares of Procter & Gamble by 65.1% during the 4th quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares in the last quarter. Finally, Evolution Wealth Management Inc. raised its holdings in shares of Procter & Gamble by 1,315.4% in the 4th quarter. Evolution Wealth Management Inc. now owns 184 shares of the company’s stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In other news, insider Susan Street Whaley sold 2,238 shares of the company’s stock in a transaction 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 sale, the insider directly owned 26,989 shares of the company’s stock, valued at $3,880,748.31. This represents a 7.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew W. Janzaruk sold 359 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $145.24, for a total value of $52,141.16. Following the completion of the transaction, the chief accounting officer directly owned 1,271 shares of the company’s stock, valued at $184,600.04. The trade was a 22.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,627 shares of company stock worth $953,417 over the last quarter. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PG. Jefferies Financial Group raised their price objective on Procter & Gamble from $177.00 to $179.00 and gave the company a “buy” rating in a report on Friday, June 26th. Bank of America reduced their target price on Procter & Gamble from $170.00 to $166.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. BMO Capital Markets lifted their price objective on Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, June 29th. Argus cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Citigroup reduced their price objective on Procter & Gamble from $181.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.19.

Procter & Gamble Price Performance

Shares of PG stock opened at $143.71 on Friday. The company’s 50-day simple moving average is $147.11 and its two-hundred day simple moving average is $148.28. The company has a market capitalization of $334.04 billion, a P/E ratio of 21.71, a P/E/G ratio of 4.41 and a beta of 0.39. Procter & Gamble Company has a one year low of $137.62 and a one year high of $167.25. 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 (NYSE:PG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The firm had revenue of $21.20 billion during the quarter, compared to analysts’ expectations of $21.38 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, equities analysts anticipate that Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Announces Dividend

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

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.