Glenmede Investment Management LP Sells 11,711 Shares of Procter & Gamble Company (The) $PG

Glenmede Investment Management LP trimmed its position in Procter & Gamble Company (The) (NYSE:PG) by 1.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 962,610 shares of the company’s stock after selling 11,711 shares during the period. Glenmede Investment Management LP’s holdings in Procter & Gamble were worth $147,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC boosted its position in Procter & Gamble by 11.4% in the third quarter. Jump Financial LLC now owns 55,183 shares of the company’s stock worth $8,479,000 after purchasing an additional 5,655 shares during the last quarter. Invenio Wealth Partners LLC increased its position in shares of Procter & Gamble by 9.5% during the 3rd quarter. Invenio Wealth Partners LLC now owns 5,163 shares of the company’s stock valued at $793,000 after purchasing an additional 448 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Procter & Gamble by 0.8% during the 3rd quarter. Epoch Investment Partners Inc. now owns 162,772 shares of the company’s stock worth $25,010,000 after purchasing an additional 1,297 shares during the period. Boston Partners raised its stake in shares of Procter & Gamble by 9.3% during the 3rd quarter. Boston Partners now owns 449,211 shares of the company’s stock worth $69,021,000 after purchasing an additional 38,070 shares during the period. Finally, Hutner Capital Management Inc. boosted its holdings in shares of Procter & Gamble by 1.3% in the 3rd quarter. Hutner Capital Management Inc. now owns 53,941 shares of the company’s stock worth $8,288,000 after buying an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Trading Up 0.0%

Shares of Procter & Gamble stock opened at $150.57 on Friday. The stock has a market capitalization of $349.91 billion, a P/E ratio of 22.31, a P/E/G ratio of 5.03 and a beta of 0.37. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $174.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.72. The stock’s 50-day simple moving average is $153.32 and its 200 day simple moving average is $151.03.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, January 23rd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $22.21 billion during the quarter, compared to analyst estimates of $22.36 billion. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.88 earnings per share. As a group, research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, January 23rd were issued a $1.0568 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $4.23 annualized dividend and a yield of 2.8%. Procter & Gamble’s dividend payout ratio (DPR) is 62.52%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PG shares. UBS Group raised their price objective on shares of Procter & Gamble from $161.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. BNP Paribas Exane dropped their target price on shares of Procter & Gamble from $172.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Procter & Gamble in a research report on Monday, December 29th. Jefferies Financial Group raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price target for the stock from $156.00 to $179.00 in a report on Tuesday, December 16th. Finally, Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Wednesday, February 18th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average target price of $168.33.

Insiders Place Their Bets

In other Procter & Gamble news, Chairman Jon R. Moeller sold 162,232 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $162.45, for a total transaction of $26,354,588.40. Following the sale, the chairman owned 319,385 shares of the company’s stock, valued at $51,884,093.25. The trade was a 33.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Balaji Purushothaman sold 12,827 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $160.31, for a total value of $2,056,296.37. Following the sale, the insider owned 12,639 shares in the company, valued at approximately $2,026,158.09. This represents a 50.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 348,618 shares of company stock worth $55,462,643 in the last three months. Insiders own 0.20% of the company’s stock.

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.