Envestnet Asset Management Inc. Reduces Position in Procter & Gamble Company (The) $PG

Key Points

• Envestnet Asset Management reduced its Procter & Gamble position by 0.7%, selling 25,189 shares and retaining 3.5 million shares worth approximately $513.5 million. Institutional investors collectively own 65.77% of PG.
• Procter & Gamble reported quarterly EPS of $1.43, beating estimates by $0.02, while revenue rose 1.5% year over year to $21.20 billion. The company pays a $1.0885 quarterly dividend, equivalent to a 3.0% yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $161.55, above the stock’s reported price of $147.37; 13 analysts rate PG a Buy and 10 rate it a Hold.

Envestnet Asset Management Inc. decreased its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,501,551 shares of the company's stock after selling 25,189 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of Procter & Gamble worth $513,465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. State Street Corp lifted its position in shares of Procter & Gamble by 1.0% in the 2nd quarter. State Street Corp now owns 102,216,308 shares of the company's stock worth $14,988,999,000 after purchasing an additional 965,461 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Procter & Gamble during the second quarter valued at about $177,000. Bullseye Investment Management LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at about $389,000. Smith Chas P & Associates PA Cpas raised its stake in Procter & Gamble by 0.8% in the second quarter. Smith Chas P & Associates PA Cpas now owns 274,537 shares of the company's stock worth $40,258,000 after buying an additional 2,216 shares in the last quarter. Finally, Talon Private Wealth LLC lifted its holdings in Procter & Gamble by 32.1% in the second quarter. Talon Private Wealth LLC now owns 2,200 shares of the company's stock worth $323,000 after buying an additional 535 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Down 0.6%

PG stock opened at $147.37 on Thursday. The business has a 50 day moving average of $146.09 and a 200 day moving average of $146.34. The firm has a market cap of $342.30 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 3.68 and a beta of 0.39. Procter & Gamble Company has a twelve month low of $137.62 and a twelve month high of $167.25. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.43.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The company's revenue was up 1.5% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. On average, research analysts forecast that Procter & Gamble Company will post 6.99 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were given a dividend of $1.0885 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $4.35 annualized dividend and a dividend yield of 3.0%. Procter & Gamble's dividend payout ratio (DPR) is 65.71%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PG shares. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Procter & Gamble in a research report on Wednesday, August 19th. Bank of America lowered their target price on Procter & Gamble from $170.00 to $166.00 and set a "buy" rating for the company in a research note on Friday, July 10th. BMO Capital Markets upped their price target on Procter & Gamble from $169.00 to $170.00 and gave the stock an "outperform" rating in a research note on Monday, June 29th. HSBC reiterated a "hold" rating and issued a $149.00 price objective (down from $182.00) on shares of Procter & Gamble in a report on Thursday, July 30th. Finally, Jefferies Financial Group raised their price objective on Procter & Gamble from $177.00 to $179.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Thirteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Procter & Gamble has a consensus rating of "Moderate Buy" and an average target price of $161.55.

Insider Buying and Selling

In related news, insider Marc Pritchard sold 4,030 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $579,473.70. Following the transaction, the insider directly owned 187,001 shares of the company's stock, valued at approximately $26,888,873.79. This represents a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew Janzaruk sold 359 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $145.24, for a total value of $52,141.16. Following the sale, the chief accounting officer owned 1,271 shares in the company, valued at approximately $184,600.04. This represents a 22.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,627 shares of company stock worth $953,417 in the last three months. Insiders own 0.23% of the company's stock.

Procter & Gamble Profile

Procter & Gamble Company is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio spans beauty, grooming, health care, fabric and home care, and family care products.

The company's brands include Tide, Ariel, Downy, Dawn, Febreze, Bounty, Charmin, Pampers, Gillette, Oral-B, Crest, Head & Shoulders, Olay and Pantene. These products are sold through retailers, e-commerce platforms and other distribution channels.

Procter & Gamble was founded in Cincinnati in 1837 by William Procter and James Gamble.

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