Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Procter & Gamble Company (The) $PG

Key Points

• Envestnet Portfolio Solutions increased its Procter & Gamble holdings by 18.2% in the second quarter, bringing its position to 175,489 shares valued at approximately $25.7 million. Institutional investors collectively own 65.77% of PG.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and 10 Holds producing a “Moderate Buy” consensus and an average price target of $161.55. PG recently traded at $147.37, down 0.6%.
• Procter & Gamble exceeded quarterly earnings expectations with EPS of $1.43 versus the $1.41 consensus, while revenue rose 1.5% year over year. The company also paid a quarterly dividend of $1.0885 per share, representing a 3.0% annualized yield.

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 18.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,489 shares of the company's stock after acquiring an additional 26,959 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Procter & Gamble were worth $25,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Procter & Gamble in the 2nd quarter worth about $27,862,105,000. Norges Bank bought a new stake in shares of Procter & Gamble during the fourth quarter valued at about $4,664,783,000. Bank of America Corp DE bought a new stake in shares of Procter & Gamble during the second quarter valued at about $3,850,628,000. Bank of New York Mellon Corp purchased a new stake in shares of Procter & Gamble in the second quarter worth about $2,281,505,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Procter & Gamble in the second quarter valued at approximately $1,480,650,000. 65.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PG. Bank of America decreased their target price on shares of Procter & Gamble from $170.00 to $166.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Citigroup reduced their price target on shares of Procter & Gamble from $181.00 to $170.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. BMO Capital Markets upped their price target on shares of Procter & Gamble from $169.00 to $170.00 and gave the stock an "outperform" rating in a report on Monday, June 29th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $149.00 price objective on shares of Procter & Gamble in a research report on Monday, August 24th. Finally, Jefferies Financial Group lifted their price objective on Procter & Gamble from $177.00 to $179.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Thirteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $161.55.

Insider Buying and Selling at Procter & Gamble

In other news, insider Susan Whaley sold 2,238 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $143.79, for a total transaction of $321,802.02. Following the completion of the transaction, the insider directly owned 26,989 shares of the company's stock, valued at approximately $3,880,748.31. This represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Marc S. Pritchard sold 4,030 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $143.79, for a total transaction of $579,473.70. Following the sale, the insider owned 187,001 shares of the company's stock, valued at approximately $26,888,873.79. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,627 shares of company stock valued at $953,417 in the last quarter. Company insiders own 0.23% of the company's stock.

Procter & Gamble Trading Down 0.6%

PG stock traded down $0.85 during trading on Wednesday, hitting $147.37. 6,580,000 shares of the company traded hands, compared to its average volume of 9,769,997. The company has a 50-day moving average of $146.10 and a 200-day moving average of $146.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68. Procter & Gamble Company has a 1 year low of $137.62 and a 1 year high of $167.25. The firm has a market capitalization of $342.30 billion, a PE ratio of 22.26, a P/E/G ratio of 3.63 and a beta of 0.39.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data 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 business's revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Analysts predict that Procter & Gamble Company will post 6.99 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders 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 yield of 3.0%. Procter & Gamble's dividend payout ratio is presently 65.71%.

About Procter & Gamble

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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