NorthCrest Asset Manangement LLC Has $21.61 Million Position in Procter & Gamble Company (The) $PG

NorthCrest Asset Manangement LLC lessened its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,928 shares of the company’s stock after selling 3,933 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Procter & Gamble were worth $21,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Procter & Gamble in the second quarter worth $5,099,644,000. Laurel Wealth Advisors LLC lifted its position in Procter & Gamble by 15,971.7% during the second quarter. Laurel Wealth Advisors LLC now owns 7,012,744 shares of the company’s stock worth $1,117,270,000 after purchasing an additional 6,969,110 shares during the period. Invesco Ltd. grew its stake in Procter & Gamble by 21.4% during the second quarter. Invesco Ltd. now owns 16,374,499 shares of the company’s stock worth $2,608,785,000 after buying an additional 2,880,895 shares in the last quarter. Amundi grew its stake in Procter & Gamble by 26.3% during the third quarter. Amundi now owns 10,682,455 shares of the company’s stock worth $1,606,748,000 after buying an additional 2,222,560 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Procter & Gamble by 66.3% in the 2nd quarter. Lazard Asset Management LLC now owns 5,504,749 shares of the company’s stock valued at $877,014,000 after buying an additional 2,195,560 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,827 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were 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 of the company’s stock, valued at $2,026,158.09. The trade was a 50.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 36,093 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $162.33, for a total value of $5,858,976.69. Following the completion of the sale, the chief executive officer owned 34,994 shares of the company’s stock, valued at $5,680,576.02. The trade was a 50.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 348,618 shares of company stock valued at $55,462,643 in the last quarter. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PG shares. Piper Sandler assumed coverage on shares of Procter & Gamble in a report on Wednesday, January 7th. They set a “neutral” rating and a $150.00 price target for the company. Rothschild & Co Redburn lifted their price objective on shares of Procter & Gamble from $155.00 to $157.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Erste Group Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Wednesday, February 18th. Wells Fargo & Company restated an “overweight” rating and set a $177.00 target price on shares of Procter & Gamble in a research note on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Procter & Gamble in a report on Monday, December 29th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.33.

Procter & Gamble Stock Performance

NYSE:PG opened at $144.41 on Monday. The stock’s 50-day moving average is $154.07 and its 200-day moving average is $150.63. Procter & Gamble Company has a 1-year low of $137.62 and a 1-year high of $174.80. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.49. The stock has a market cap of $335.61 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 4.82 and a beta of 0.37.

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

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Friday, January 23rd were paid a dividend of $1.0568 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $4.23 annualized dividend and a dividend yield of 2.9%. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.52%.

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.