State of Michigan Retirement System Trims Holdings in The Procter & Gamble Company (NYSE:PG)

State of Michigan Retirement System lowered its holdings in The Procter & Gamble Company (NYSE:PG) by 0.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 644,737 shares of the company’s stock after selling 500 shares during the quarter. State of Michigan Retirement System’s holdings in Procter & Gamble were worth $104,609,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Procter & Gamble during the 4th quarter valued at $3,956,117,000. Cerity Partners LLC boosted its position in shares of Procter & Gamble by 106.2% in the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after purchasing an additional 3,159,796 shares during the period. Wellington Management Group LLP increased its stake in Procter & Gamble by 9.4% in the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after buying an additional 3,047,557 shares in the last quarter. International Assets Investment Management LLC raised its stake in Procter & Gamble by 13,850.3% during the 4th quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after purchasing an additional 2,727,685 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in Procter & Gamble by 235.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after acquiring an additional 2,268,805 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Argus upped their price target on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group upped their price objective on Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and lifted their target price for the stock from $160.00 to $175.00 in a report on Monday, March 11th. BNP Paribas assumed coverage on Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.72.

Procter & Gamble Stock Up 0.7 %

Procter & Gamble stock opened at $163.93 on Wednesday. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $169.41. The business has a fifty day moving average of $165.65 and a two-hundred day moving average of $159.01. The firm has a market cap of $386.90 billion, a P/E ratio of 26.79, a P/E/G ratio of 3.35 and a beta of 0.41. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 earnings per share. On average, analysts forecast that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.46%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is 65.85%.

Insider Transactions at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the transaction, the chief executive officer now owns 4,004 shares in the company, valued at approximately $634,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at $3,179,061.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,544 shares of company stock valued at $25,413,051. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.