Eagle Asset Management Inc. Sells 18,282 Shares of The Procter & Gamble Company (NYSE:PG)

Eagle Asset Management Inc. decreased its position in The Procter & Gamble Company (NYSE:PG) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 826,672 shares of the company’s stock after selling 18,282 shares during the quarter. Eagle Asset Management Inc.’s holdings in Procter & Gamble were worth $138,641,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PG. Itau Unibanco Holding S.A. bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new stake in Procter & Gamble during the 2nd quarter valued at $29,000. POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter worth $34,000. Quest Partners LLC purchased a new position in shares of Procter & Gamble in the second quarter worth $36,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Procter & Gamble during the second quarter valued at $44,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

PG stock opened at $172.68 on Friday. The firm has a market cap of $406.67 billion, a price-to-earnings ratio of 29.77, a PEG ratio of 3.69 and a beta of 0.42. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $170.00 and its two-hundred day simple moving average is $168.54.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. Procter & Gamble’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is 69.48%.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This represents a 52.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 160,693 shares of company stock worth $27,311,345 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Thursday, August 29th. Morgan Stanley lifted their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.00.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.