Assenagon Asset Management S.A. Has $332.66 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by on Jul 1st, 2023

Assenagon Asset Management S.A. grew its position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 30.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,237,258 shares of the company’s stock after acquiring an additional 518,355 shares during the quarter. Procter & Gamble comprises 1.2% of Assenagon Asset Management S.A.’s holdings, making the stock its 9th largest holding. Assenagon Asset Management S.A. owned 0.09% of Procter & Gamble worth $332,658,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EWG Elevate Inc. purchased a new position in Procter & Gamble in the fourth quarter worth $26,000. Silicon Valley Capital Partners purchased a new position in Procter & Gamble in the fourth quarter worth $28,000. Legend Financial Advisors Inc. purchased a new position in Procter & Gamble in the third quarter worth $30,000. Luken Investment Analytics LLC purchased a new position in Procter & Gamble in the fourth quarter worth $37,000. Finally, Bourgeon Capital Management LLC boosted its position in Procter & Gamble by 39.9% in the fourth quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of several research analyst reports. UBS Group boosted their price objective on Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Jefferies Financial Group boosted their target price on Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, April 24th. StockNews.com began coverage on Procter & Gamble in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Barclays boosted their target price on Procter & Gamble from $160.00 to $167.00 in a research note on Wednesday, April 26th. Finally, Evercore ISI boosted their target price on Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.50.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,300 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $156.33, for a total transaction of $1,922,859.00. Following the completion of the transaction, the insider now owns 13,001 shares of the company’s stock, valued at approximately $2,032,446.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Procter & Gamble news, insider Susan Street Whaley sold 4,852 shares of Procter & Gamble stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total value of $754,340.44. Following the completion of the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $1,240,184.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,300 shares of Procter & Gamble stock in a transaction on Monday, April 24th. The stock was sold at an average price of $156.33, for a total value of $1,922,859.00. Following the completion of the sale, the insider now directly owns 13,001 shares of the company’s stock, valued at approximately $2,032,446.33. The disclosure for this sale can be found here. Insiders sold a total of 95,093 shares of company stock valued at $14,821,930 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $151.74 on Friday. The firm has a market capitalization of $357.65 billion, a P/E ratio of 26.44, a P/E/G ratio of 4.15 and a beta of 0.41. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $150.41 and its two-hundred day simple moving average is $147.39. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $158.11.

Procter & Gamble (NYSE:PG – Free Report) last posted its quarterly earnings data on Friday, April 21st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The firm had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same period in the prior year, the business earned $1.33 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were given a $0.9407 dividend. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $3.76 annualized dividend and a dividend yield of 2.48%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio is currently 65.51%.

Procter & Gamble Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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