Truist Financial Corp Cuts Stake in Procter & Gamble Company (The) (NYSE:PG)

Truist Financial Corp lowered its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,228,527 shares of the company's stock after selling 10,302 shares during the period. Truist Financial Corp owned about 0.05% of Procter & Gamble worth $209,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in Procter & Gamble during the fourth quarter worth about $5,244,463,000. GAMMA Investing LLC boosted its position in Procter & Gamble by 20,758.5% during the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock worth $580,596,000 after acquiring an additional 2,973,757 shares during the last quarter. Capital Research Global Investors boosted its holdings in Procter & Gamble by 62.5% in the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock valued at $1,240,294,000 after purchasing an additional 2,846,560 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Procter & Gamble by 10.1% in the 4th 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. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Down 0.3%

PG stock opened at $160.72 on Friday. Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The stock has a market capitalization of $376.82 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 4.58 and a beta of 0.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. The company has a fifty day moving average of $162.10 and a 200-day moving average of $165.30.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. During the same quarter last year, the business earned $1.52 EPS. The business's revenue was down 2.1% on a year-over-year basis. As a group, analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Monday, April 21st. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio (DPR) is 67.14%.

Insider Transactions at Procter & Gamble

In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the transaction, the insider owned 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer owned 51,965 shares of the company's stock, valued at $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

PG has been the topic of several recent analyst reports. Barclays reiterated an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Piper Sandler boosted their target price 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. Redburn Atlantic lowered shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price on the stock. in a report on Thursday, May 1st. Evercore ISI reiterated an "outperform" rating and issued a $190.00 target price (up from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Finally, Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a report on Thursday, May 1st. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $178.45.

About Procter & Gamble

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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