BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Procter & Gamble Co (NYSE:PG) by 390.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 238,101 shares of the company’s stock after buying an additional 189,583 shares during the period. Procter & Gamble accounts for 1.6% of BI Asset Management Fondsmaeglerselskab A S’s investment portfolio, making the stock its 17th largest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Procter & Gamble were worth $26,191,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of PG. New England Investment & Retirement Group Inc. acquired a new position in Procter & Gamble in the 1st quarter valued at about $28,000. Efficient Wealth Management LLC acquired a new stake in shares of Procter & Gamble during the 1st quarter worth approximately $39,000. Wealthcare Capital Management LLC raised its position in shares of Procter & Gamble by 126.0% during the 4th quarter. Wealthcare Capital Management LLC now owns 339 shares of the company’s stock valued at $42,000 after buying an additional 189 shares during the period. Pacifica Partners Inc. purchased a new position in Procter & Gamble in the fourth quarter worth approximately $44,000. Finally, Lighthouse Financial Advisors Inc. acquired a new stake in Procter & Gamble during the fourth quarter worth $44,000. Institutional investors own 62.39% of the company’s stock.
In other Procter & Gamble news, Director Nelson Peltz sold 404,714 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $113.01, for a total transaction of $45,736,729.14. Following the sale, the director now owns 3,891 shares of the company’s stock, valued at $439,721.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Deborah P. Majoras sold 12,589 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $122.68, for a total transaction of $1,544,418.52. Following the sale, the insider now owns 44,948 shares of the company’s stock, valued at approximately $5,514,220.64. The disclosure for this sale can be found here. Insiders sold 8,802,488 shares of company stock worth $1,048,532,939 in the last three months. 1.75% of the stock is currently owned by corporate insiders.
Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, April 17th. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.04. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. The firm had revenue of $17.21 billion for the quarter, compared to analysts’ expectations of $17.29 billion. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts predict that Procter & Gamble Co will post 4.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, April 24th were paid a dividend of $0.7907 per share. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.75. Procter & Gamble’s payout ratio is presently 69.91%.
A number of brokerages recently issued reports on PG. Stifel Nicolaus raised their price objective on Procter & Gamble from $117.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Berenberg Bank reiterated a “hold” rating and set a $130.00 price target on shares of Procter & Gamble in a research report on Friday, January 24th. Jefferies Financial Group upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $130.00 to $128.00 in a report on Monday, March 30th. Citigroup boosted their target price on Procter & Gamble from $143.00 to $146.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, Morgan Stanley upped their price target on Procter & Gamble from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Procter & Gamble presently has a consensus rating of “Buy” and a consensus target price of $130.31.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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