Janney Montgomery Scott LLC Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Janney Montgomery Scott LLC cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 994,156 shares of the company’s stock after selling 7,291 shares during the period. Janney Montgomery Scott LLC’s holdings in Procter & Gamble were worth $172,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PG. Legal & General Group Plc raised its position in Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after acquiring an additional 122,190 shares during the period. Dimensional Fund Advisors LP lifted its position in Procter & Gamble by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after purchasing an additional 733,440 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in 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 valued at $999,705,000 after purchasing an additional 545,601 shares during the period. Janus Henderson Group PLC increased its position in Procter & Gamble by 1.3% in 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 raised its stake in shares of Procter & Gamble by 3.9% in 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 during the period. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PG. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a report on Monday, September 30th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Evercore ISI raised their price target on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Citigroup upped their price objective on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Trading Down 0.0 %

PG opened at $165.10 on Friday. The firm has a market cap of $388.82 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.57 and a beta of 0.42. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The stock has a 50-day moving average of $171.62 and a 200 day moving average of $167.99. The company has a current ratio of 0.75, 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 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 business’s revenue was down .6% on a year-over-year basis. As a group, research analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.44%. Procter & Gamble’s dividend payout ratio (DPR) is 69.48%.

Insider Activity

In other news, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $170.00, for a total transaction of $573,410.00. Following the transaction, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO R. Alexandra Keith sold 3,373 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the transaction, the chief executive officer now owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares of the company’s stock, valued at $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 389,144 shares of company stock valued at $66,184,385. 0.18% of the stock is currently owned by company insiders.

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.