Factory Mutual Insurance Co. Sells 42,850 Shares of Procter & Gamble Company (The) $PG

Factory Mutual Insurance Co. trimmed its stake in Procter & Gamble Company (The) (NYSE:PG) by 10.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 351,937 shares of the company’s stock after selling 42,850 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Procter & Gamble were worth $51,129,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Procter & Gamble in the 2nd quarter worth approximately $27,862,105,000. State Street Corp grew its stake in Procter & Gamble by 1.0% in the second quarter. State Street Corp now owns 102,216,308 shares of the company’s stock valued at $14,988,999,000 after purchasing an additional 965,461 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at approximately $3,850,628,000. Bank of New York Mellon Corp bought a new stake in Procter & Gamble in the second quarter worth approximately $2,281,505,000. Finally, Dimensional Fund Advisors LP increased its position in Procter & Gamble by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 11,797,916 shares of the company’s stock worth $1,704,182,000 after buying an additional 300,280 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Trending Headlines about Procter & Gamble

Here are the key news stories impacting Procter & Gamble this week:

• Positive Sentiment: P&G has raised its dividend for 70 consecutive years, a track record that supports its appeal to income-focused investors. Article: Procter & Gamble dividend history
• Neutral Sentiment: The company closed a €3.25 billion euro-note offering. The financing provides capital but adds debt obligations; the available report does not specify how the proceeds will be used. Article: Euro note offering
• Negative Sentiment: Analysts note that rising costs and shoppers’ focus on value could make it harder for P&G to sustain growth in premium brands, despite strong loyalty and innovation. Article: Premium brands in a value-seeking market
• Negative Sentiment: Several executives and the chief accounting officer reported share sales. Such transactions can add near-term concern, though insider sales alone do not establish a negative outlook. SEC filing: Insider transaction

Wall Street Analyst Weigh In

Several brokerages have commented on PG. BNP Paribas Exane increased their price target on Procter & Gamble from $177.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, October 23rd. Morgan Stanley boosted their price target on Procter & Gamble from $166.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Piper Sandler boosted their price target on shares of Procter & Gamble from $145.00 to $167.00 and gave the company a “neutral” rating in a report on Monday, October 26th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Procter & Gamble in a report on Friday, October 23rd. Finally, DZ Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.57.

Insider Buying and Selling

In related news, CEO Shailesh Jejurikar sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $163.09, for a total transaction of $5,708,150.00. Following the completion of the sale, the chief executive officer directly owned 55,391 shares of the company’s stock, valued at $9,033,718.19. The trade was a 38.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew W. Janzaruk sold 9,479 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $163.00, for a total transaction of $1,545,077.00. Following the completion of the transaction, the chief accounting officer owned 1,271 shares in the company, valued at $207,173. This represents a 88.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 128,085 shares of company stock worth $20,696,098. 0.23% of the stock is currently owned by company insiders.

Procter & Gamble Trading Down 1.1%

Shares of PG opened at $161.80 on Wednesday. The stock’s fifty day simple moving average is $150.68 and its 200-day simple moving average is $149.12. The firm has a market capitalization of $375.02 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 4.02 and a beta of 0.36. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.40.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. The firm had revenue of $23.28 billion during the quarter, compared to analyst estimates of $22.80 billion. Procter & Gamble had a return on equity of 31.02% and a net margin of 18.23%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $1.99 earnings per share. As a group, research analysts predict that Procter & Gamble Company will post 6.99 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Friday, October 23rd will be paid a $1.0885 dividend. This represents a $4.35 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, October 23rd. Procter & Gamble’s dividend payout ratio (DPR) is 65.51%.

Procter & Gamble Company Profile

Procter & Gamble Company (NYSE: PG) is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio includes personal health and grooming products, beauty and skin care items, baby, feminine and family care products, fabric and home care products, and oral care products.

The company’s well-known brands include Pampers, Tide, Gillette, Crest, Oral-B, Head & Shoulders, Pantene, Olay, Old Spice, Dawn, Febreze and Mr.