215,642 Shares of Procter & Gamble Company (The) $PG Purchased by Associated Banc Corp

Key Points

• Associated Banc Corp opened a new Procter & Gamble position, purchasing 215,642 shares worth approximately $31.3 million in the third quarter.
• P&G beat quarterly expectations, reporting adjusted earnings of $2.00 per share versus $1.89 expected and revenue of $23.28 billion, up 4% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $170.57; the company also declared a quarterly dividend of $1.0885 per share.

Associated Banc Corp bought a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 215,642 shares of the company's stock, valued at approximately $31,328,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PG. BlackRock Inc. purchased a new position in Procter & Gamble during the 2nd quarter valued at approximately $27,862,105,000. Bank of America Corp DE bought a new position in shares of Procter & Gamble during the 2nd quarter valued at approximately $3,850,628,000. Bank of New York Mellon Corp purchased a new position in shares of Procter & Gamble in the second quarter valued at $2,281,505,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Procter & Gamble in the second quarter valued at $1,480,650,000. Finally, Corient Private Wealth LP bought a new stake in Procter & Gamble in the second quarter worth $335,908,000. Institutional investors own 65.77% of the company's stock.

Analysts Set New Price Targets

PG has been the topic of a number of recent research reports. TD Cowen upped their price target on shares of Procter & Gamble from $150.00 to $166.00 and gave the company a "hold" rating in a research note on Friday, October 23rd. BNP Paribas Exane lifted their price objective on shares of Procter & Gamble from $177.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, October 23rd. Wells Fargo & Company boosted their target price on shares of Procter & Gamble from $164.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, October 23rd. The Goldman Sachs Group restated a "neutral" rating and issued a $161.00 target price on shares of Procter & Gamble in a report on Thursday, October 22nd. Finally, HSBC cut shares of Procter & Gamble from a "buy" rating to a "hold" rating and decreased their target price for the company from $182.00 to $149.00 in a research report on Thursday, July 30th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Procter & Gamble currently has an average rating of "Moderate Buy" and an average target price of $170.57.

Procter & Gamble Stock Down 1.1%

NYSE PG opened at $161.80 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $150.68 and a two-hundred day moving average of $149.12. The firm has a market capitalization of $375.02 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 4.02 and a beta of 0.36. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $167.25.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.11. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The business had revenue of $23.28 billion for the quarter, compared to the consensus estimate of $22.80 billion. During the same quarter in the prior year, the firm posted $1.99 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that Procter & Gamble Company will post 6.99 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be paid a $1.0885 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $4.35 annualized dividend and a yield of 2.7%. Procter & Gamble's dividend payout ratio (DPR) is presently 65.51%.

Insiders Place Their Bets

In related news, insider Victor Aguilar sold 18,812 shares of the firm's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $164.43, for a total transaction of $3,093,257.16. Following the completion of the sale, the insider directly owned 55,243 shares of the company's stock, valued at approximately $9,083,606.49. This trade represents a 25.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shailesh Jejurikar sold 35,000 shares of the business's stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $163.09, for a total transaction of $5,708,150.00. Following the sale, the chief executive officer directly owned 55,391 shares of the company's stock, valued at $9,033,718.19. This represents a 38.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 128,085 shares of company stock valued at $20,696,098 over the last quarter. Corporate insiders own 0.23% of the company's stock.

Procter & Gamble News Summary

Here are the key news stories impacting Procter & Gamble this week:

• Positive Sentiment: P&G has raised its dividend for 70 consecutive years, a track record that supports its appeal to income-focused investors. Article: Procter & Gamble dividend history
• Neutral Sentiment: The company closed a €3.25 billion euro-note offering. The financing provides capital but adds debt obligations; the available report does not specify how the proceeds will be used. Article: Euro note offering
• Negative Sentiment: Analysts note that rising costs and shoppers’ focus on value could make it harder for P&G to sustain growth in premium brands, despite strong loyalty and innovation. Article: Premium brands in a value-seeking market
• Negative Sentiment: Several executives and the chief accounting officer reported share sales. Such transactions can add near-term concern, though insider sales alone do not establish a negative outlook. SEC filing: Insider transaction

Procter & Gamble Profile

Procter & Gamble Company NYSE: PG is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company's well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.

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