The Manufacturers Life Insurance Company Has $196.70 Million Position in Procter & Gamble Company (The) $PG

Key Points

• The Manufacturers Life Insurance Company reduced its Procter & Gamble stake by 31.6% in the second quarter, selling 618,970 shares and retaining a position worth approximately $196.7 million. Institutional investors and hedge funds collectively own 65.77% of PG.
• Procter & Gamble reported quarterly EPS of $1.43, exceeding estimates by $0.02, while revenue rose 1.5% year over year to $21.20 billion but fell short of expectations. The company also maintains a quarterly dividend of $1.0885, equivalent to a 3.0% annual yield.
• Analysts have a “Moderate Buy” consensus rating, with 13 Buy ratings and 11 Holds and an average price target of $161.19, above the reported share price of $143.71.

The Manufacturers Life Insurance Company cut its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 31.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,341,390 shares of the company's stock after selling 618,970 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Procter & Gamble worth $196,704,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PG. BlackRock Inc. bought a new position in Procter & Gamble in the 2nd quarter worth approximately $27,862,105,000. Norges Bank bought a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $4,664,783,000. Bank of New York Mellon Corp bought a new stake in shares of Procter & Gamble in the second quarter valued at approximately $2,281,505,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Procter & Gamble in the second quarter worth $1,480,650,000. Finally, Cardano Risk Management B.V. grew its stake in shares of Procter & Gamble by 1,104.8% in the fourth quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company's stock worth $1,364,518,000 after acquiring an additional 8,731,126 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Trading Up 0.4%

Shares of Procter & Gamble stock opened at $143.71 on Friday. The firm has a market capitalization of $334.04 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 4.41 and a beta of 0.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.47. The company's fifty day moving average price is $147.11 and its two-hundred day moving average price is $148.28. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $167.25.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The company had revenue of $21.20 billion during the quarter, compared to the consensus estimate of $21.38 billion. During the same period last year, the firm earned $1.48 EPS. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. On average, analysts expect that Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were given a $1.0885 dividend. This represents a $4.35 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, July 24th. Procter & Gamble's dividend payout ratio is 65.71%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 2,238 shares of the firm's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $143.79, for a total transaction of $321,802.02. Following the completion of the transaction, the insider owned 26,989 shares in the company, valued at $3,880,748.31. This trade represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Marc S. Pritchard sold 4,030 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $143.79, for a total value of $579,473.70. Following the sale, the insider directly owned 187,001 shares in the company, valued at $26,888,873.79. The trade was a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,627 shares of company stock worth $953,417 over the last quarter. Company insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PG. Bank of America cut their target price on shares of Procter & Gamble from $170.00 to $166.00 and set a "buy" rating for the company in a research note on Friday, July 10th. Jefferies Financial Group boosted their price objective on shares of Procter & Gamble from $177.00 to $179.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Procter & Gamble in a research report on Wednesday, August 19th. JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $164.00 to $162.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Procter & Gamble in a research note on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $161.19.

About Procter & Gamble

Procter & Gamble NYSE: PG is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world's largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G's product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

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