PNC Financial Services Group Inc. Has $1.37 Billion Position in The Procter & Gamble Company (NYSE:PG)

PNC Financial Services Group Inc. reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,180,655 shares of the company’s stock after selling 107,745 shares during the period. Procter & Gamble makes up about 0.9% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 13th biggest position. PNC Financial Services Group Inc. owned approximately 0.35% of Procter & Gamble worth $1,371,487,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. NewSquare Capital LLC lifted its holdings in Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble in the third quarter valued at approximately $33,000. Noble Wealth Management PBC acquired a new position in Procter & Gamble in the fourth quarter valued at approximately $39,000. Bay Harbor Wealth Management LLC increased its stake in Procter & Gamble by 972.0% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after purchasing an additional 243 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in Procter & Gamble in the fourth quarter valued at approximately $46,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Stock Up 0.8 %

Procter & Gamble stock opened at $176.06 on Friday. The company has a market cap of $412.84 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43. The company has a fifty day simple moving average of $166.85 and a 200 day simple moving average of $169.77. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. Research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Analysts Set New Price Targets

PG has been the subject of several recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Piper Sandler lowered their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company upped their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $181.11.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock worth $23,988,008 over the last quarter. 0.18% of the stock is currently owned by insiders.

Procter & Gamble 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.