Naviter Wealth LLC Purchases 1,970 Shares of The Procter & Gamble Company (NYSE:PG)

Naviter Wealth LLC lifted its position in The Procter & Gamble Company (NYSE:PG) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,653 shares of the company’s stock after acquiring an additional 1,970 shares during the quarter. Naviter Wealth LLC’s holdings in Procter & Gamble were worth $2,864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PG. Norges Bank bought a new position in Procter & Gamble in the fourth quarter worth about $3,956,117,000. Cerity Partners LLC raised its holdings in Procter & Gamble by 106.2% in the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after purchasing an additional 3,159,796 shares in the last quarter. Wellington Management Group LLP raised its holdings in Procter & Gamble by 9.4% in the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after acquiring an additional 2,727,685 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Procter & Gamble by 235.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after acquiring an additional 2,268,805 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PG has been the topic of several recent analyst reports. BNP Paribas initiated coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective on the stock. Jefferies Financial Group upped their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and upped their price objective for the company from $160.00 to $175.00 in a report on Monday, March 11th. Argus upped their target price on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $170.72.

Procter & Gamble Trading Up 0.7 %

Shares of PG stock opened at $163.93 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The company has a market cap of $386.90 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 3.35 and a beta of 0.41. The stock has a 50 day simple moving average of $165.65 and a 200-day simple moving average of $159.01. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $169.41.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 EPS. On average, equities research analysts expect that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were paid a $1.0065 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, April 18th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the transaction, the insider now directly owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at approximately $634,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares of the company’s stock, valued at $1,858,265.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,544 shares of company stock valued at $25,413,051. 0.17% of the stock is owned by insiders.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.