Lenox Wealth Management Inc. raised its holdings in Procter & Gamble Co (NYSE:PG) by 1.9% during the third quarter, HoldingsChannel reports. The firm owned 483,436 shares of the company’s stock after acquiring an additional 9,088 shares during the quarter. Procter & Gamble accounts for 15.1% of Lenox Wealth Management Inc.’s holdings, making the stock its 2nd largest position. Lenox Wealth Management Inc.’s holdings in Procter & Gamble were worth $43,983,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the business. Asset Planning Services Ltd. lifted its stake in shares of Procter & Gamble by 0.4% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock valued at $104,000 after acquiring an additional 5 shares during the last quarter. Harding Loevner LP bought a new position in shares of Procter & Gamble in the 2nd quarter valued at $119,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Procter & Gamble in the 3rd quarter valued at $125,000. Blume Capital Management Inc. lifted its stake in shares of Procter & Gamble by 25.4% in the 2nd quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock valued at $129,000 after acquiring an additional 300 shares during the last quarter. Finally, Litman Gregory Asset Management LLC bought a new position in shares of Procter & Gamble in the 3rd quarter valued at $173,000. 59.78% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Juan Fernando Posada sold 9,005 shares of Procter & Gamble stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $82.09, for a total value of $739,220.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deborah P. Majoras sold 4,591 shares of Procter & Gamble stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $87.48, for a total value of $401,620.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,406 shares of company stock valued at $9,270,479. Corporate insiders own 0.35% of the company’s stock.
Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, January 23rd. The company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.05. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The firm had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.39 billion. During the same period last year, the company posted $1.08 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. research analysts predict that Procter & Gamble Co will post 4.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Friday, January 19th were given a $0.6896 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, January 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 70.23%.
PG has been the subject of a number of research reports. Zacks Investment Research upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Tuesday, January 16th. Deutsche Bank initiated coverage on Procter & Gamble in a research note on Wednesday, December 13th. They issued a “buy” rating and a $101.00 price target for the company. Jefferies Group reiterated a “buy” rating and issued a $88.23 price target (down from $99.00) on shares of Procter & Gamble in a research note on Thursday, November 16th. Morgan Stanley increased their price target on Procter & Gamble from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $88.00 price target on shares of Procter & Gamble in a research note on Sunday, December 17th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $88.11.
Procter & Gamble Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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