The Procter & Gamble Company (NYSE:PG) Shares Sold by Sumitomo Life Insurance Co.

Posted by Defense World Staff on Mar 26th, 2023

Sumitomo Life Insurance Co. decreased its stake in The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,125 shares of the company’s stock after selling 302 shares during the quarter. Procter & Gamble makes up 0.3% of Sumitomo Life Insurance Co.’s holdings, making the stock its 26th biggest position. Sumitomo Life Insurance Co.’s holdings in Procter & Gamble were worth $4,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Procter & Gamble by 1.0% in the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after buying an additional 2,197,165 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Procter & Gamble by 1.1% in the third quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock worth $20,440,487,000 after buying an additional 1,811,085 shares in the last quarter. State Street Corp lifted its stake in shares of Procter & Gamble by 0.8% in the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock worth $13,224,594,000 after buying an additional 797,652 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Procter & Gamble by 3.6% in the second quarter. Legal & General Group Plc now owns 18,536,142 shares of the company’s stock worth $2,665,327,000 after buying an additional 637,095 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Procter & Gamble by 22.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,567,690 shares of the company’s stock worth $2,382,268,000 after buying an additional 3,054,844 shares in the last quarter. Institutional investors and hedge funds own 62.13% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $146.72 on Friday. The company’s 50 day simple moving average is $141.10 and its 200-day simple moving average is $140.89. The company has a market capitalization of $346.13 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 4.01 and a beta of 0.40. The Procter & Gamble Company has a 1 year low of $122.18 and a 1 year high of $164.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.37 and a current ratio of 0.56.

Procter & Gamble (NYSE:PG – Get Rating) last released its quarterly earnings results on Thursday, January 19th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $20.75 billion. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 EPS. As a group, equities research analysts expect that The Procter & Gamble Company will post 5.84 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Friday, January 20th were issued a $0.9133 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, January 19th. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.04%.

Insider Activity at Procter & Gamble

In related news, CEO Jon R. Moeller sold 2,151 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $295,418.34. Following the completion of the transaction, the chief executive officer now owns 226,748 shares in the company, valued at $31,141,570.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jon R. Moeller sold 2,151 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $295,418.34. Following the completion of the transaction, the chief executive officer now owns 226,748 shares in the company, valued at $31,141,570.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andre Schulten sold 1,311 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $180,052.74. Following the completion of the transaction, the chief financial officer now owns 35,142 shares of the company’s stock, valued at approximately $4,826,402.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,766 shares of company stock worth $656,511. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of several research reports. UBS Group raised shares of Procter & Gamble from a “neutral” rating to a “buy” rating and raised their price target for the stock from $157.00 to $163.00 in a research note on Wednesday, March 1st. Wells Fargo & Company reduced their target price on shares of Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. Citigroup initiated coverage on shares of Procter & Gamble in a research note on Thursday, February 16th. They set a “buy” rating and a $160.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Procter & Gamble from $162.00 to $156.00 in a research note on Monday, March 20th. Finally, Barclays reduced their target price on shares of Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating on the stock in a research note on Monday, January 23rd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.27.

About Procter & Gamble

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & 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.