Assenagon Asset Management S.A. Sells 149,682 Shares of The Procter & Gamble Company (NYSE:PG)

Assenagon Asset Management S.A. lessened its position in shares of The Procter & Gamble Company (NYSE:PG) by 11.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,107,742 shares of the company’s stock after selling 149,682 shares during the period. Assenagon Asset Management S.A.’s holdings in Procter & Gamble were worth $185,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after acquiring an additional 3,619,466 shares during the last quarter. FMR LLC increased its position in Procter & Gamble by 2.7% during the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock worth $4,599,554,000 after purchasing an additional 689,282 shares in the last quarter. Legal & General Group Plc lifted its stake in Procter & Gamble by 0.6% in the 2nd 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 during the last quarter. Franklin Resources Inc. grew its stake in shares of Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after buying an additional 1,760,214 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Procter & Gamble by 4.7% during the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock worth $3,183,522,000 after buying an additional 830,476 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler started coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a report on Monday, September 30th. Finally, Wells Fargo & Company dropped their price target on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.75.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,343,110. This represents a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,439 shares of company stock valued at $13,317,460. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $159.75 on Thursday. The stock’s 50 day moving average price is $169.40 and its two-hundred day moving average price is $169.52. The stock has a market capitalization of $376.22 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a 52-week low of $146.28 and a 52-week high of $180.43.

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

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a $1.0065 dividend. The ex-dividend date is Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.52%. Procter & Gamble’s payout ratio is currently 69.31%.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.