Citizens Financial Group Inc. RI Grows Stake in The Procter & Gamble Company (NYSE:PG)

Citizens Financial Group Inc. RI increased its holdings in The Procter & Gamble Company (NYSE:PG) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 582,814 shares of the company’s stock after buying an additional 17,727 shares during the quarter. Procter & Gamble comprises 2.0% of Citizens Financial Group Inc. RI’s portfolio, making the stock its 10th largest holding. Citizens Financial Group Inc. RI’s holdings in Procter & Gamble were worth $100,943,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC boosted its stake in shares of Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares in the last quarter. Radnor Capital Management LLC acquired a new stake in Procter & Gamble during the 3rd quarter worth about $5,705,000. Welch Group LLC lifted its stake in Procter & Gamble by 0.9% during the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after buying an additional 2,990 shares in the last quarter. Swiss National Bank increased its position in shares of Procter & Gamble by 0.6% in the third quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock worth $1,213,403,000 after acquiring an additional 39,000 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Procter & Gamble by 67.2% during the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after acquiring an additional 10,777 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jon R. Moeller sold 87,979 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the transaction, the chief executive officer now directly owns 300,777 shares of the company’s stock, valued at $51,252,400.80. This trade represents a 22.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Shailesh Jejurikar sold 14,034 shares of Procter & Gamble stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 9,856 shares in the company, valued at approximately $1,673,351.68. This represents a 58.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,727 shares of company stock worth $29,694,037 in the last three months. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $170.92 on Thursday. The company has a market capitalization of $402.52 billion, a P/E ratio of 29.47, a PEG ratio of 3.69 and a beta of 0.42. The company has a fifty day moving average price of $170.01 and a 200-day moving average price of $168.51. 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 $142.50 and a 52-week high of $177.94.

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

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.36%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PG shares. Morgan Stanley raised their target price on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their target price for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. Finally, DA Davidson reiterated a “neutral” rating and set a $160.00 price objective on shares of Procter & Gamble in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Profile

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.