Covea Finance Buys 13,100 Shares of Procter & Gamble Company (The) (NYSE:PG)

Covea Finance grew its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 23.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,070 shares of the company's stock after buying an additional 13,100 shares during the period. Covea Finance's holdings in Procter & Gamble were worth $11,600,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Carr Financial Group Corp boosted its holdings in shares of Procter & Gamble by 7.9% during the 1st quarter. Carr Financial Group Corp now owns 2,563 shares of the company's stock valued at $437,000 after buying an additional 187 shares in the last quarter. Advisor Resource Council bought a new stake in shares of Procter & Gamble during the 1st quarter valued at $4,925,000. Segment Wealth Management LLC boosted its holdings in shares of Procter & Gamble by 11.3% during the 1st quarter. Segment Wealth Management LLC now owns 14,768 shares of the company's stock valued at $2,517,000 after buying an additional 1,503 shares in the last quarter. DMKC Advisory Services LLC boosted its stake in Procter & Gamble by 1.5% in the 1st quarter. DMKC Advisory Services LLC now owns 11,472 shares of the company's stock worth $1,955,000 after purchasing an additional 175 shares in the last quarter. Finally, L.M. Kohn & Company boosted its stake in Procter & Gamble by 102.1% in the 1st quarter. L.M. Kohn & Company now owns 31,276 shares of the company's stock worth $5,330,000 after purchasing an additional 15,797 shares in the last quarter. Institutional investors own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PG. Bank of America dropped their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Piper Sandler upped their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research note on Thursday, May 1st. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $178.86.

Insider Buying and Selling

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

Procter & Gamble Price Performance

NYSE PG opened at $158.93 on Friday. Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43. The firm has a market capitalization of $372.62 billion, a P/E ratio of 25.23, a PEG ratio of 4.66 and a beta of 0.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $163.35 and a 200-day moving average price of $166.13.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The firm had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. The business's revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were given a dividend of $1.0568 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.66%. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio is presently 66.98%.

Procter & Gamble Company 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.

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Company (The) (NYSE:PG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.