Assenagon Asset Management S.A. Reduces Stock Position in Procter & Gamble Company (The) $PG

Key Points

• Assenagon Asset Management cut its Procter & Gamble stake by 62.6% in the first quarter, selling 3.42 million shares and leaving it with about 2.04 million shares worth roughly $295.2 million.
• Procter & Gamble reported quarterly EPS of $1.59, topping estimates, while revenue came in at $21.23 billion, slightly below expectations but up 7.4% year over year.
• The company also raised its quarterly dividend to $1.0885 per share, and analysts currently rate the stock a “Moderate Buy” with a consensus target price of $160.78.

Assenagon Asset Management S.A. cut its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 62.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,043,519 shares of the company's stock after selling 3,417,420 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Procter & Gamble worth $295,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PG. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Procter & Gamble by 1,000.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company's stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Park Square Financial Group LLC increased its stake in Procter & Gamble by 65.1% in the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company's stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. Evolution Wealth Management Inc. increased its stake in Procter & Gamble by 1,315.4% in the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company's stock valued at $26,000 after purchasing an additional 171 shares during the last quarter. Litman Gregory Wealth Management LLC acquired a new stake in Procter & Gamble during the fourth quarter worth approximately $26,000. Finally, Maseco LLP acquired a new stake in Procter & Gamble during the fourth quarter worth approximately $28,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PG has been the subject of several research analyst reports. Evercore set a $162.00 target price on shares of Procter & Gamble in a report on Monday, April 27th. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $165.00 to $162.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. Barclays decreased their price objective on shares of Procter & Gamble from $155.00 to $146.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 14th. Raymond James Financial dropped their price objective on Procter & Gamble from $175.00 to $170.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $163.00 target price on shares of Procter & Gamble in a research report on Monday, April 27th. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $160.78.

Procter & Gamble Price Performance

Shares of PG opened at $152.13 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.53 and a current ratio of 0.73. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $167.25. The firm has a 50-day simple moving average of $145.74 and a 200-day simple moving average of $147.90. The company has a market capitalization of $354.26 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 6.56 and a beta of 0.39.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.03. Procter & Gamble had a return on equity of 32.00% and a net margin of 19.16%.The firm had revenue of $21.23 billion for the quarter, compared to analysts' expectations of $21.52 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. Procter & Gamble has set its FY 2026 guidance at 6.830-7.090 EPS. On average, equities research analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, April 24th were issued a dividend of $1.0885 per share. This is a boost from Procter & Gamble's previous quarterly dividend of $1.06. This represents a $4.35 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, April 24th. Procter & Gamble's dividend payout ratio is 63.60%.

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.

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