Procter & Gamble Company (The) $PG Stake Lessened by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in Procter & Gamble Company (The) (NYSE:PG) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,430,758 shares of the company’s stock after selling 30,739 shares during the period. Nordea Investment Management AB owned 0.10% of Procter & Gamble worth $349,349,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kure Advisory LLC bought a new position in shares of Procter & Gamble during the fourth quarter worth about $239,000. Sovereign Financial Group Inc. increased its holdings in Procter & Gamble by 13.6% in the fourth quarter. Sovereign Financial Group Inc. now owns 7,397 shares of the company’s stock valued at $1,060,000 after buying an additional 884 shares during the last quarter. New England Research & Management Inc. raised its stake in Procter & Gamble by 60.5% during the fourth quarter. New England Research & Management Inc. now owns 13,395 shares of the company’s stock valued at $1,920,000 after buying an additional 5,050 shares in the last quarter. Magnus Financial Group LLC lifted its holdings in Procter & Gamble by 8.8% during the 4th quarter. Magnus Financial Group LLC now owns 4,359 shares of the company’s stock worth $625,000 after buying an additional 354 shares during the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. lifted its holdings in Procter & Gamble by 75.6% during the 4th quarter. Henrickson Nauta Wealth Advisors Inc. now owns 2,773 shares of the company’s stock worth $388,000 after buying an additional 1,194 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Procter & Gamble from $176.00 to $171.00 and set a “buy” rating for the company in a report on Monday, December 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Procter & Gamble in a research note on Monday, December 29th. TD Cowen cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and increased their target price for the stock from $150.00 to $156.00 in a report on Tuesday, January 27th. Piper Sandler initiated coverage on shares of Procter & Gamble in a research report on Wednesday, January 7th. They issued a “neutral” rating and a $150.00 price target on the stock. Finally, Rothschild & Co Redburn boosted their price objective on shares of Procter & Gamble from $155.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $168.33.

Procter & Gamble Trading Down 0.3%

Shares of PG stock opened at $144.41 on Friday. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $174.80. The firm has a market capitalization of $335.61 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 4.82 and a beta of 0.37. The stock has a fifty day moving average of $154.07 and a two-hundred day moving average of $150.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.72.

Procter & Gamble (NYSE:PG) last issued its quarterly 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 company 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 business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.88 EPS. As a group, research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors 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 yield of 2.9%. Procter & Gamble’s dividend payout ratio is currently 62.67%.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 95,903 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $151.15, for a total transaction of $14,495,738.45. Following the completion of the sale, the insider directly owned 182,607 shares of the company’s stock, valued at approximately $27,601,048.05. This represents a 34.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Balaji Purushothaman sold 12,827 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $160.31, for a total transaction of $2,056,296.37. Following the completion of the transaction, the insider directly owned 12,639 shares in the company, valued at approximately $2,026,158.09. This trade represents a 50.37% 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 348,618 shares of company stock valued at $55,462,643 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

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.