Ellis Investment Partners LLC Increases Stock Position in The Procter & Gamble Company (NYSE:PG)

Ellis Investment Partners LLC increased its position in The Procter & Gamble Company (NYSE:PG) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,771 shares of the company’s stock after purchasing an additional 183 shares during the quarter. Ellis Investment Partners LLC’s holdings in Procter & Gamble were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PG. Norges Bank purchased a new position in shares of Procter & Gamble in the fourth quarter valued at $3,956,117,000. TD Asset Management Inc raised its holdings in Procter & Gamble by 114.9% in the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock valued at $579,017,000 after acquiring an additional 1,907,716 shares in the last quarter. Swedbank AB acquired a new stake in Procter & Gamble in the first quarter valued at $233,788,000. Ilex Capital Partners UK LLP acquired a new stake in Procter & Gamble in the first quarter valued at $228,212,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Procter & Gamble by 32.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,615,906 shares of the company’s stock valued at $830,256,000 after acquiring an additional 1,385,146 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the transaction, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. The disclosure for this sale can be found here. Insiders sold 375,553 shares of company stock worth $63,829,141 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Up 0.1 %

PG stock opened at $175.59 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $177.04. The firm’s 50-day simple moving average is $168.26 and its 200 day simple moving average is $164.69. The stock has a market cap of $414.42 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 EPS. As a group, sell-side analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PG. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Citigroup upped their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Barclays dropped their target price on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.79.

About Procter & Gamble

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.