Challenger Wealth Management Makes New Investment in The Procter & Gamble Company (NYSE:PG)

Challenger Wealth Management bought a new position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,184 shares of the company's stock, valued at approximately $2,378,000. Procter & Gamble comprises 2.0% of Challenger Wealth Management's portfolio, making the stock its 12th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in PG. Independent Wealth Network Inc. boosted its holdings in Procter & Gamble by 4.7% in the 4th quarter. Independent Wealth Network Inc. now owns 1,832 shares of the company's stock worth $307,000 after acquiring an additional 82 shares during the period. Echo45 Advisors LLC boosted its stake in Procter & Gamble by 25.9% during the 4th quarter. Echo45 Advisors LLC now owns 1,562 shares of the company's stock valued at $258,000 after purchasing an additional 321 shares during the period. D.B. Root & Company LLC lifted its position in Procter & Gamble by 7.0% in the fourth quarter. D.B. Root & Company LLC now owns 3,579 shares of the company's stock worth $600,000 after purchasing an additional 235 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Procter & Gamble by 2.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 9,414 shares of the company's stock worth $1,578,000 after purchasing an additional 187 shares in the last quarter. Finally, MinichMacGregor Wealth Management LLC boosted its position in shares of Procter & Gamble by 23.0% in the 4th quarter. MinichMacGregor Wealth Management LLC now owns 1,724 shares of the company's stock valued at $289,000 after purchasing an additional 322 shares during the period. Hedge funds and other institutional investors own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PG shares. Citigroup cut their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Royal Bank of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Piper Sandler boosted their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, Bank of America dropped their price objective on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $178.52.

Insider Activity at Procter & Gamble

In other news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer now owns 51,965 shares of the company's stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the transaction, the insider now directly owns 25,182 shares of the company's stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Procter & Gamble Price Performance

Shares of NYSE:PG traded up $1.72 during midday trading on Friday, reaching $170.28. 3,741,191 shares of the company's stock traded hands, compared to its average volume of 8,062,080. The company has a market cap of $399.22 billion, a P/E ratio of 27.11, a PEG ratio of 3.76 and a beta of 0.41. The company has a fifty day simple moving average of $164.21 and a two-hundred day simple moving average of $167.36. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The company's revenue was down 2.1% on a year-over-year basis. Equities analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble's payout ratio is 66.98%.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.