Dai ichi Life Insurance Company Ltd Trims Stake in The Procter & Gamble Company (NYSE:PG)

Dai ichi Life Insurance Company Ltd cut its position in The Procter & Gamble Company (NYSE:PG) by 12.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 243,268 shares of the company’s stock after selling 33,367 shares during the period. Procter & Gamble comprises 1.1% of Dai ichi Life Insurance Company Ltd’s portfolio, making the stock its 11th largest holding. Dai ichi Life Insurance Company Ltd’s holdings in Procter & Gamble were worth $42,134,000 at the end of the most recent reporting period.

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

Procter & Gamble Trading Up 0.6 %

NYSE:PG opened at $177.40 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a market cap of $417.78 billion, a P/E ratio of 30.59, a PEG ratio of 3.81 and a beta of 0.42. The stock’s 50 day simple moving average is $170.04 and its 200-day simple moving average is $168.74. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $178.82.

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

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.27%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.31%.

Insider Buying and Selling

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the sale, the chief executive officer now owns 263,537 shares in the company, valued at $44,508,763.93. This trade represents a 12.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,473 shares of company stock valued at $12,313,697 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PG. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a research note on Monday, September 30th. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler started coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $180.45.

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.