QRG Capital Management Inc. Decreases Stock Holdings in The Procter & Gamble Company (NYSE:PG)

QRG Capital Management Inc. cut its stake in The Procter & Gamble Company (NYSE:PG) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 389,389 shares of the company’s stock after selling 24,906 shares during the period. Procter & Gamble comprises 0.7% of QRG Capital Management Inc.’s holdings, making the stock its 21st largest position. QRG Capital Management Inc.’s holdings in Procter & Gamble were worth $65,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PG. RPg Family Wealth Advisory LLC purchased a new position in Procter & Gamble during the 3rd quarter worth approximately $33,000. Bay Harbor Wealth Management LLC raised its position in Procter & Gamble by 972.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after buying an additional 243 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $46,000. Costello Asset Management INC increased its holdings in shares of Procter & Gamble by 2,142.9% during the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after purchasing an additional 300 shares in the last quarter. Finally, DecisionPoint Financial LLC increased its holdings in shares of Procter & Gamble by 46.7% during the 4th quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock valued at $55,000 after purchasing an additional 105 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,785,274.66. The trade was a 44.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly 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. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Down 0.7 %

Shares of PG opened at $171.36 on Thursday. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm’s fifty day moving average is $166.11 and its two-hundred day moving average is $169.47. The stock has a market cap of $401.81 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the company posted $1.84 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. Procter & Gamble’s payout ratio is 64.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PG shares. DA Davidson reaffirmed a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Piper Sandler cut their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Stifel Nicolaus lifted their target price 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. Finally, UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $180.42.

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.