PNC Financial Services Group Inc. Sells 32,137 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• PNC Financial Services Group Inc. reduced its holdings in Procter & Gamble by 0.4%, selling 32,137 shares to end with approximately 8.15 million shares, representing about 0.7% of its investment portfolio.
• Procter & Gamble recently reported $1.48 EPS for the quarter, exceeding analysts' expectations, with a net margin of 18.95% and quarterly revenue of $20.89 billion, a 1.7% increase year-over-year.
• The company will distribute a quarterly dividend of $1.0568 per share on August 15, 2023, which translates to an annualized yield of 2.8% with a payout ratio of 67.14%.

PNC Financial Services Group Inc. trimmed its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,148,518 shares of the company's stock after selling 32,137 shares during the quarter. Procter & Gamble makes up about 0.7% of PNC Financial Services Group Inc.'s investment portfolio, making the stock its 11th biggest position. PNC Financial Services Group Inc. owned 0.35% of Procter & Gamble worth $1,388,670,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PG. Northern Trust Corp grew its stake in shares of Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Procter & Gamble by 15.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock worth $2,728,430,000 after purchasing an additional 2,224,912 shares during the last quarter. Invesco Ltd. raised its holdings in Procter & Gamble by 13.6% during the 4th quarter. Invesco Ltd. now owns 11,265,453 shares of the company's stock worth $1,888,653,000 after purchasing an additional 1,345,501 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Procter & Gamble by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,712,499 shares of the company's stock worth $1,628,252,000 after purchasing an additional 267,534 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Procter & Gamble by 20,758.5% during the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after purchasing an additional 7,913,335 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Trading Up 0.1%

Shares of NYSE:PG opened at $150.65 on Friday. Procter & Gamble Company has a 12 month low of $149.91 and a 12 month high of $180.43. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. The company's fifty day simple moving average is $159.83 and its 200 day simple moving average is $163.99. The firm has a market cap of $353.20 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 3.96 and a beta of 0.37.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.56%. The business had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same period last year, the business posted $1.40 earnings per share. The firm's quarterly revenue was up 1.7% on a year-over-year basis. As a group, research analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued 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 presently 67.14%.

Insider Activity at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction on 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 sale, the insider directly owned 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on PG shares. Raymond James Financial cut their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Citigroup cut their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Royal Bank Of Canada upgraded shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $164.00 to $177.00 in a report on Friday, April 25th. Truist Financial cut 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. Finally, Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the company an "overweight" rating in a report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $175.88.

Procter & Gamble 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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