Procter & Gamble (NYSE:PG) Stock Price Down 0.2% After Insider Selling

The Procter & Gamble Company (NYSE:PG) shares dropped 0.2% on Thursday after an insider sold shares in the company. The stock traded as low as $169.00 and last traded at $169.27. Approximately 942,837 shares traded hands during trading, a decline of 86% from the average daily volume of 6,654,218 shares. The stock had previously closed at $169.58.

Specifically, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

PG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Evercore ISI increased their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler assumed coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Stifel Nicolaus upped their price target on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Finally, Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble Price Performance

The company has a 50 day simple moving average of $171.88 and a 200-day simple moving average of $167.45. The stock has a market cap of $399.50 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 3.72 and a beta of 0.41. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data 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. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter last year, the company earned $1.83 EPS. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts expect that The Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Institutional Investors Weigh In On Procter & Gamble

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc raised its position in Procter & Gamble by 0.6% during the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after purchasing an additional 122,190 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Procter & Gamble by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock worth $1,598,510,000 after buying an additional 733,440 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after buying an additional 545,601 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Procter & Gamble by 1.3% during the first quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock worth $974,914,000 after buying an additional 79,665 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Procter & Gamble by 3.9% during the second quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock worth $941,066,000 after buying an additional 216,300 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

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.