Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

Connor Clark & Lunn Investment Management Ltd. reduced its position in The Procter & Gamble Company (NYSE:PG) by 82.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,915 shares of the company’s stock after selling 410,485 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Procter & Gamble were worth $14,571,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PG. Swedbank AB boosted its stake in shares of Procter & Gamble by 3.9% during the 3rd quarter. Swedbank AB now owns 1,503,647 shares of the company’s stock valued at $260,432,000 after buying an additional 56,583 shares during the last quarter. Howard Capital Management Group LLC boosted its stake in Procter & Gamble by 1.0% during the 3rd quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock valued at $1,442,000 after acquiring an additional 82 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Procter & Gamble by 14.7% during the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock worth $820,031,000 after acquiring an additional 608,168 shares in the last quarter. United Bank increased its position in shares of Procter & Gamble by 1.7% in the 3rd quarter. United Bank now owns 13,367 shares of the company’s stock worth $2,315,000 after purchasing an additional 219 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Procter & Gamble by 43.8% in the 3rd quarter. GSA Capital Partners LLP now owns 5,171 shares of the company’s stock valued at $896,000 after purchasing an additional 1,575 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PG. DA Davidson reiterated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. UBS Group reiterated a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Piper Sandler lowered their target price 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. Finally, Barclays increased their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $181.47.

Procter & Gamble Price Performance

Shares of PG opened at $168.50 on Friday. The firm has a market capitalization of $395.10 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The stock’s fifty day moving average is $167.21 and its 200-day moving average is $169.82. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last released its quarterly 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. The company had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. Procter & Gamble’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. Equities analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.01%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble 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 value of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Company Profile

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.