Steel Peak Wealth Management LLC lowered its position in The Procter & Gamble Company (NYSE:PG – Get Rating) by 69.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,838 shares of the company’s stock after selling 60,207 shares during the period. Steel Peak Wealth Management LLC’s holdings in Procter & Gamble were worth $4,068,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. EWG Elevate Inc. acquired a new position in Procter & Gamble in the fourth quarter worth $26,000. Legend Financial Advisors Inc. acquired a new position in Procter & Gamble during the 3rd quarter worth about $30,000. Bourgeon Capital Management LLC grew its holdings in Procter & Gamble by 39.9% during the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after acquiring an additional 71 shares during the last quarter. Belmont Capital LLC increased its position in Procter & Gamble by 40.0% in the 3rd quarter. Belmont Capital LLC now owns 385 shares of the company’s stock valued at $49,000 after acquiring an additional 110 shares in the last quarter. Finally, Align Wealth Management LLC bought a new position in shares of Procter & Gamble in the fourth quarter worth about $50,000. 62.13% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Procter & Gamble
In related news, insider Susan Street Whaley sold 435 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $141.82, for a total value of $61,691.70. Following the completion of the transaction, the insider now directly owns 10,840 shares of the company’s stock, valued at approximately $1,537,328.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Procter & Gamble news, insider Susan Street Whaley sold 435 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $141.82, for a total value of $61,691.70. Following the sale, the insider now owns 10,840 shares in the company, valued at approximately $1,537,328.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andre Schulten sold 1,311 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $180,052.74. Following the transaction, the chief financial officer now directly owns 35,142 shares of the company’s stock, valued at $4,826,402.28. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock valued at $656,511 over the last quarter. Corporate insiders own 0.26% of the company’s stock.
Procter & Gamble Price Performance
Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.01. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $20.75 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts forecast that The Procter & Gamble Company will post 5.84 earnings per share for the current year.
Procter & Gamble Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Friday, January 20th were paid a $0.9133 dividend. This represents a $3.65 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, January 19th. Procter & Gamble’s payout ratio is currently 64.04%.
Analyst Ratings Changes
PG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Procter & Gamble from $162.00 to $156.00 in a report on Monday, March 20th. UBS Group upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $157.00 to $163.00 in a research report on Wednesday, March 1st. StockNews.com initiated coverage on Procter & Gamble in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Stifel Nicolaus boosted their price objective on Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, January 20th. Finally, JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their target price for the company from $150.00 to $155.00 in a research note on Friday, March 3rd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $155.27.
Procter & Gamble Company Profile
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.
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