Hartford Investment Management Co. Has $24.39 Million Stock Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Hartford Investment Management Co. has reduced its stake in Procter & Gamble by 1.7%, holding approximately $24.39 million worth of shares as of the latest reporting period.
• Procter & Gamble reported quarterly earnings of $1.48 EPS, surpassing expectations, with a year-over-year revenue increase of 1.7% to $20.89 billion.
• The company announced a quarterly dividend of $1.0568 per share, translating to an annualized yield of 2.8% with a dividend payout ratio of 67.14%.

Hartford Investment Management Co. trimmed its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,088 shares of the company's stock after selling 2,408 shares during the quarter. Procter & Gamble accounts for 0.8% of Hartford Investment Management Co.'s portfolio, making the stock its 18th largest position. Hartford Investment Management Co.'s holdings in Procter & Gamble were worth $24,385,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Navigoe LLC bought a new stake in shares of Procter & Gamble during the fourth quarter worth $31,000. Capital A Wealth Management LLC bought a new stake in Procter & Gamble in the 4th quarter valued at $31,000. 10Elms LLP acquired a new position in Procter & Gamble in the 4th quarter worth $34,000. Mizuho Securities Co. Ltd. increased its holdings in Procter & Gamble by 566.7% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after purchasing an additional 170 shares in the last quarter. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at about $34,000. Institutional investors own 65.77% of the company's stock.

Procter & Gamble Trading Down 1.7%

Shares of NYSE:PG opened at $150.30 on Friday. The company has a 50-day simple moving average of $160.13 and a 200 day simple moving average of $164.05. The company has a market capitalization of $352.38 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 4.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.50 and a current ratio of 0.70. Procter & Gamble Company has a 52-week low of $149.91 and a 52-week high of $180.43.

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. The company had revenue of $20.89 billion during the quarter, compared to analysts' expectations of $20.79 billion. Procter & Gamble had a return on equity of 32.56% and a net margin of 18.95%. The business's revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.40 earnings per share. Sell-side analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is currently 67.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PG. Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Redburn Partners set a $161.00 target price on Procter & Gamble in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $170.00 price target (down previously from $178.00) on shares of Procter & Gamble in a research report on Friday, July 25th. Piper Sandler lifted their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, UBS Group set a $180.00 price objective on shares of Procter & Gamble and gave the stock a "buy" rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.88.

Insider Activity

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction dated Monday, May 5th. The shares were 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 owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company's stock.

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.

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