Fifth Third Bancorp Sells 177,691 Shares of Procter & Gamble Company (The) $PG

Key Points

• Fifth Third Bancorp reduced its Procter & Gamble stake by 6.6% in the third quarter, selling 177,691 shares. It retained 2.52 million shares, valued at about $366 million.
• Insiders sold a total of 197,756 shares worth about $32.3 million over the past 90 days, including sales by the CEO and chief accounting officer.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $170.57. P&G’s latest quarterly results beat earnings and revenue estimates, with sales up 4% year over year.

Fifth Third Bancorp lowered its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,519,062 shares of the company's stock after selling 177,691 shares during the period. Fifth Third Bancorp owned 0.11% of Procter & Gamble worth $365,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Three Bridge Wealth Advisors LLC increased its position in Procter & Gamble by 2.1% during the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 6,627 shares of the company's stock worth $963,000 after purchasing an additional 139 shares during the period. Banyan Capital Management Inc. purchased a new position in shares of Procter & Gamble during the 3rd quarter worth approximately $523,000. Maryland State Retirement & Pension System raised its stake in shares of Procter & Gamble by 13.9% during the 3rd quarter. Maryland State Retirement & Pension System now owns 143,169 shares of the company's stock worth $20,800,000 after buying an additional 17,483 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Procter & Gamble by 1.4% in the 3rd quarter. Ritholtz Wealth Management now owns 87,356 shares of the company's stock valued at $12,691,000 after buying an additional 1,173 shares during the period. Finally, UNIVEST FINANCIAL Corp lifted its holdings in shares of Procter & Gamble by 7.5% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 25,497 shares of the company's stock valued at $3,704,000 after buying an additional 1,781 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procter & Gamble

In related news, CAO Matthew Janzaruk sold 9,479 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $163.00, for a total transaction of $1,545,077.00. Following the completion of the transaction, the chief accounting officer directly owned 1,271 shares in the company, valued at $207,173. The trade was a 88.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Shailesh Jejurikar sold 35,000 shares of the company's stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $163.09, for a total value of $5,708,150.00. Following the completion of the sale, the chief executive officer directly owned 55,391 shares in the company, valued at approximately $9,033,718.19. The trade was a 38.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 197,756 shares of company stock worth $32,336,001. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PG has been the topic of a number of analyst reports. Deutsche Bank reaffirmed a "buy" rating on shares of Procter & Gamble in a report on Friday, October 23rd. Barclays increased their price objective on Procter & Gamble from $152.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, October 26th. Citigroup raised their target price on Procter & Gamble from $180.00 to $187.00 and gave the company a "buy" rating in a report on Friday, October 23rd. BNP Paribas Exane boosted their target price on shares of Procter & Gamble from $177.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, October 23rd. Finally, HSBC cut shares of Procter & Gamble from a "buy" rating to a "hold" rating and lowered their price target for the stock from $182.00 to $149.00 in a research note on Thursday, July 30th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.57.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $167.79 on Thursday. The stock has a market cap of $388.91 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 4.15 and a beta of 0.36. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $170.52. The company's 50-day moving average price is $153.39 and its 200 day moving average price is $149.73. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.11. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The firm had revenue of $23.28 billion during the quarter, compared to the consensus estimate of $22.80 billion. During the same period last year, the firm posted $1.99 EPS. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Procter & Gamble Company will post 6.99 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be paid a dividend of $1.0885 per share. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 23rd. Procter & Gamble's dividend payout ratio (DPR) is 65.51%.

Procter & Gamble Company Profile

The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.

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