iA Global Asset Management Inc. Has $15.16 Million Position in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• iA Global Asset Management Inc. reduced its stake in Procter & Gamble by 10.8% during the first quarter, now holding 88,973 shares valued at approximately $15.16 million.
• Procter & Gamble recently reported a quarterly earnings per share of $1.48, exceeding analysts' expectations of $1.42, with a revenue of $20.89 billion.
• The company has declared a quarterly dividend of $1.0568 per share, indicating a 2.8% annual dividend yield for stockholders recorded as of July 18th.

iA Global Asset Management Inc. lowered its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,973 shares of the company's stock after selling 10,750 shares during the period. iA Global Asset Management Inc.'s holdings in Procter & Gamble were worth $15,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. Navigoe LLC acquired a new stake in Procter & Gamble in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new position in Procter & Gamble during the fourth quarter worth approximately $31,000. 10Elms LLP bought a new stake in Procter & Gamble in the fourth quarter valued at approximately $34,000. Sunbeam Capital Management LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $34,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in shares of 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 acquiring an additional 170 shares during the period. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Price Performance

PG stock traded up $2.36 during midday trading on Wednesday, reaching $152.87. The company had a trading volume of 7,374,443 shares, compared to its average volume of 8,662,392. Procter & Gamble Company has a 1-year low of $149.91 and a 1-year high of $180.43. The stock has a 50 day moving average price of $159.18 and a 200-day moving average price of $163.87. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. The company has a market capitalization of $358.09 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 3.97 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The company had revenue of $20.89 billion during the quarter, compared to analysts' expectations of $20.79 billion. During the same period in the previous year, the company earned $1.40 EPS. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. Procter & Gamble's payout ratio is 64.98%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI restated an "in-line" rating and issued a $170.00 price target (down previously from $190.00) on shares of Procter & Gamble in a research note on Monday, July 14th. Truist Financial decreased their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Raymond James Financial dropped their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Redburn Atlantic downgraded shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price for the company. in a report on Thursday, May 1st. Finally, Citigroup decreased their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.88.

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.