Corebridge Financial Inc. Has $89.13 Million Position in Procter & Gamble Company (The) $PG

Key Points

• Corebridge Financial Inc. has reduced its stake in Procter & Gamble by 3.4%, now owning 522,984 shares valued at approximately $89.13 million, making it the company's 22nd biggest position.
• A number of research firms have downgraded Procter & Gamble's stock ratings, with price targets now ranging from $161.00 to $177.00, reflecting a less optimistic outlook compared to previous targets.
• Procter & Gamble reported a $20.89 billion revenue and $1.48 earnings per share for the last quarter, exceeding analysts' expectations, and has announced a quarterly dividend of $1.0568 per share.

Corebridge Financial Inc. lowered its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,984 shares of the company's stock after selling 18,278 shares during the period. Procter & Gamble comprises 0.5% of Corebridge Financial Inc.'s holdings, making the stock its 22nd biggest holding. Corebridge Financial Inc.'s holdings in Procter & Gamble were worth $89,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Navigoe LLC bought a new position in shares of Procter & Gamble in the fourth quarter valued at $31,000. Capital A Wealth Management LLC acquired a new position in shares of Procter & Gamble in the 4th quarter worth $31,000. 10Elms LLP acquired a new position in shares of Procter & Gamble in the 4th quarter worth $34,000. Mizuho Securities Co. Ltd. raised its position in shares of Procter & Gamble by 566.7% during the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after purchasing an additional 170 shares during the period. Finally, Sunbeam Capital Management LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at $34,000. 65.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Shailesh Jejurikar sold 13,039 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $157.27, for a total transaction of $2,050,643.53. Following the transaction, the chief operating officer owned 28,036 shares in the company, valued at approximately $4,409,221.72. This trade represents a 31.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andre Schulten sold 11,638 shares of the company's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $157.27, for a total transaction of $1,830,308.26. Following the completion of the sale, the chief financial officer owned 52,642 shares of the company's stock, valued at $8,279,007.34. This represents a 18.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,181 shares of company stock valued at $18,761,172. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Stock Up 0.6%

Shares of Procter & Gamble stock traded up $0.99 on Wednesday, hitting $156.96. 4,548,118 shares of the company traded hands, compared to its average volume of 7,181,753. Procter & Gamble Company has a 12-month low of $149.91 and a 12-month high of $180.43. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49. The company has a market cap of $367.67 billion, a PE ratio of 24.11, a PEG ratio of 4.12 and a beta of 0.37. The company has a 50-day moving average price of $156.63 and a 200 day moving average price of $162.72.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%.The firm had revenue of $20.89 billion during the quarter, compared to analysts' expectations of $20.79 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The business's revenue for the quarter was up 1.7% on a year-over-year basis. Procter & Gamble has set its FY 2026 guidance at 6.830-7.090 EPS. Sell-side analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a $1.0568 dividend. The ex-dividend date was Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.7%. Procter & Gamble's dividend payout ratio is currently 64.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PG shares. Erste Group Bank cut Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. UBS Group set a $180.00 target price on shares of Procter & Gamble and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research report on Thursday, May 1st. Piper Sandler lifted their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company reduced their target price on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of "Moderate Buy" and an average target price of $175.94.

About Procter & Gamble

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.