PNC Financial Services Group Inc. Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

PNC Financial Services Group Inc. reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,288,400 shares of the company’s stock after selling 130,171 shares during the period. Procter & Gamble accounts for about 0.9% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 11th largest position. PNC Financial Services Group Inc. owned 0.35% of Procter & Gamble worth $1,435,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble in the 2nd quarter worth about $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble in the second quarter valued at approximately $29,000. POM Investment Strategies LLC acquired a new position in Procter & Gamble during the second quarter valued at approximately $34,000. Quest Partners LLC acquired a new position in Procter & Gamble during the second quarter valued at approximately $36,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Procter & Gamble during the second quarter worth approximately $44,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PG. Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their target price for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. Evercore ISI upped their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Finally, TD Cowen started coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective on the stock. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $170.80 on Tuesday. The business has a 50 day simple moving average of $170.21 and a 200-day simple moving average of $168.45. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The company has a market capitalization of $402.24 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. 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 for the quarter, beating 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 in the previous year, the firm earned $1.83 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.36%. Procter & Gamble’s payout ratio is currently 69.48%.

Insider Activity

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at $2,332,570. The trade was a 87.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,727 shares of company stock valued at $46,014,037. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Profile

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.