ING Groep NV Sells 130,775 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• ING Groep NV reduced its stake in Procter & Gamble Company by 18.3%, selling 130,775 shares, which brings their total holdings to 585,197 shares worth approximately $99.7 million.
• Procter & Gamble reported a quarterly earnings per share (EPS) of $1.48, exceeding analyst expectations of $1.42, with revenue of $20.89 billion for the quarter.
• The company declared a quarterly dividend of $1.0568 per share, resulting in an annualized dividend of $4.23 and a yield of 2.8%, to be paid on August 15th.

ING Groep NV decreased its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 18.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 585,197 shares of the company's stock after selling 130,775 shares during the period. ING Groep NV's holdings in Procter & Gamble were worth $99,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Earned Wealth Advisors LLC grew its position in Procter & Gamble by 105.4% during the 1st quarter. Earned Wealth Advisors LLC now owns 3,629 shares of the company's stock worth $618,000 after acquiring an additional 1,862 shares during the last quarter. SGL Investment Advisors Inc. boosted its stake in shares of Procter & Gamble by 13.1% during the first quarter. SGL Investment Advisors Inc. now owns 1,984 shares of the company's stock valued at $315,000 after purchasing an additional 230 shares in the last quarter. Allianz SE grew its holdings in shares of Procter & Gamble by 3.0% during the first quarter. Allianz SE now owns 109,897 shares of the company's stock worth $18,729,000 after purchasing an additional 3,206 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Procter & Gamble by 4.5% in the first quarter. Commonwealth Equity Services LLC now owns 1,856,447 shares of the company's stock valued at $316,376,000 after buying an additional 79,457 shares during the period. Finally, Haven Private LLC bought a new position in Procter & Gamble in the 1st quarter valued at approximately $204,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Up 0.0%

Shares of PG traded up $0.06 during trading hours on Friday, reaching $153.55. 3,769,742 shares of the stock traded hands, compared to its average volume of 8,206,229. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The stock has a fifty day simple moving average of $158.59 and a 200 day simple moving average of $163.74. The company has a market cap of $359.67 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 4.03 and a beta of 0.37.

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

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given 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 of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio is currently 64.82%.

Wall Street Analysts Forecast Growth

PG has been the subject of several analyst reports. Bank of America dropped their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Raymond James Financial lowered their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Piper Sandler upped their price target on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Redburn Atlantic downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective for the company. in a research report on Thursday, May 1st. Finally, Evercore ISI reiterated an "in-line" rating and issued a $170.00 target price (down from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. 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. According to MarketBeat, Procter & Gamble has a consensus 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.