Nordea Investment Management AB Has $410.39 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 3rd, 2023

Nordea Investment Management AB trimmed its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,769,540 shares of the company’s stock after selling 20,230 shares during the quarter. Nordea Investment Management AB owned approximately 0.12% of Procter & Gamble worth $410,390,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PG. Vanguard Group Inc. grew its position in shares of Procter & Gamble by 1.0% during the 3rd 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 during the period. State Street Corp grew its position in shares of Procter & Gamble by 0.8% during the 3rd 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 during the period. Geode Capital Management LLC grew its position in shares of Procter & Gamble by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock worth $6,997,559,000 after buying an additional 323,292 shares during the period. Morgan Stanley grew its position in shares of Procter & Gamble by 12.6% during the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after buying an additional 4,959,527 shares during the period. Finally, Moneta Group Investment Advisors LLC grew its position in shares of Procter & Gamble by 96,526.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after buying an additional 38,495,676 shares during the period. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 1.6 %

Shares of Procter & Gamble stock opened at $151.74 on Monday. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month high of $158.11. The stock has a market cap of $357.65 billion, a P/E ratio of 26.44, a P/E/G ratio of 4.22 and a beta of 0.42. 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 business’s 50 day moving average is $150.41 and its 200-day moving average is $147.32.

Procter & Gamble (NYSE:PG – Free Report) last posted its quarterly earnings results on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, beating 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 business had revenue of $20.07 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the prior year, the business earned $1.33 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities research analysts predict that The Procter & Gamble Company will post 5.86 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were paid a $0.9407 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, April 20th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio is 65.51%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PG shares. StockNews.com started coverage on Procter & Gamble in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Barclays boosted their price objective on Procter & Gamble from $160.00 to $167.00 in a research report on Wednesday, April 26th. Jefferies Financial Group boosted their price objective on Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Morgan Stanley boosted their price objective on Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, April 24th. Finally, Truist Financial lowered Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the company from $165.00 to $155.00 in a research report on Thursday, May 18th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.50.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 4,852 shares of the 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 sale, the insider now owns 7,977 shares in the company, valued at approximately $1,240,184.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Procter & Gamble news, insider Susan Street Whaley sold 4,852 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total transaction of $754,340.44. Following the transaction, the insider now owns 7,977 shares in the company, valued at approximately $1,240,184.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,300 shares of the 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 transaction, the insider now owns 13,001 shares in the company, valued at approximately $2,032,446.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,093 shares of company stock worth $14,821,930. Company insiders own 0.26% of the company’s stock.

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.

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

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