Connor Clark & Lunn Investment Management Ltd. Sells 507,914 Shares of The Procter & Gamble Company (NYSE:PG)

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 50.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 497,400 shares of the company’s stock after selling 507,914 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Procter & Gamble were worth $86,150,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

PG has been the topic of a number of recent research reports. Evercore ISI raised their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research note on Monday, September 30th. Morgan Stanley increased their price objective on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Finally, Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $170.77 on Wednesday. The business has a fifty day moving average price of $170.07 and a 200-day moving average price of $168.49. The firm has a market capitalization of $402.17 billion, a P/E ratio of 29.44, a PEG ratio of 3.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94.

Procter & Gamble (NYSE:PG) last announced its quarterly 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. 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 for the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the prior year, the business posted $1.83 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. Procter & Gamble’s payout ratio is currently 69.48%.

Insider Buying and Selling

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares in the company, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Shailesh Jejurikar sold 14,034 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $169.78, for a total transaction of $2,382,692.52. Following the completion of the transaction, the chief operating officer now directly owns 9,856 shares in the company, valued at $1,673,351.68. The trade was a 58.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,727 shares of company stock worth $46,014,037. Corporate insiders own 0.18% of the company’s stock.

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.