Northern Trust Corp Sells 1,479,404 Shares of The Procter & Gamble Company (NYSE:PG)

Northern Trust Corp cut its holdings in The Procter & Gamble Company (NYSE:PG) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,642,288 shares of the company’s stock after selling 1,479,404 shares during the period. Procter & Gamble makes up approximately 0.8% of Northern Trust Corp’s portfolio, making the stock its 17th biggest position. Northern Trust Corp owned approximately 1.22% of Procter & Gamble worth $4,346,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ExodusPoint Capital Management LP increased its stake in shares of Procter & Gamble by 688.7% in the 2nd quarter. ExodusPoint Capital Management LP now owns 213,063 shares of the company’s stock valued at $32,330,000 after acquiring an additional 186,049 shares in the last quarter. Osaic Holdings Inc. increased its stake in Procter & Gamble by 132.2% in the second quarter. Osaic Holdings Inc. now owns 2,826,829 shares of the company’s stock valued at $187,631,000 after purchasing an additional 1,609,280 shares in the last quarter. AMJ Financial Wealth Management acquired a new position in shares of Procter & Gamble during the second quarter valued at about $220,000. Altrius Capital Management Inc boosted its position in shares of Procter & Gamble by 1.4% during the 2nd quarter. Altrius Capital Management Inc now owns 23,339 shares of the company’s stock worth $3,542,000 after purchasing an additional 322 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Procter & Gamble by 2.5% in the 2nd quarter. Bessemer Group Inc. now owns 756,925 shares of the company’s stock valued at $114,856,000 after buying an additional 18,226 shares during the period. 63.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PG shares. William Blair began coverage on shares of Procter & Gamble in a research note on Friday, September 8th. They issued a “market perform” rating on the stock. They noted that the move was a valuation call. Royal Bank of Canada boosted their price objective on Procter & Gamble from $165.00 to $167.00 and gave the stock a “sector perform” rating in a report on Monday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on Procter & Gamble from $170.00 to $173.00 and gave the company a “buy” rating in a report on Monday, July 31st. Sanford C. Bernstein lowered their price target on Procter & Gamble from $162.00 to $153.00 and set a “market perform” rating for the company in a research report on Thursday, October 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $174.00 price objective on shares of Procter & Gamble in a report on Tuesday, August 1st. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.83.

Insider Activity

In other Procter & Gamble news, CFO Andre Schulten sold 40,298 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $150.61, for a total value of $6,069,281.78. Following the sale, the chief financial officer now owns 36,460 shares of the company’s stock, valued at approximately $5,491,240.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO R. Alexandra Keith sold 19,661 shares of Procter & Gamble stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $153.47, for a total value of $3,017,373.67. Following the sale, the chief executive officer now owns 24,438 shares in the company, valued at $3,750,499.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 40,298 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $150.61, for a total transaction of $6,069,281.78. Following the completion of the transaction, the chief financial officer now owns 36,460 shares of the company’s stock, valued at $5,491,240.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,088 shares of company stock valued at $14,565,908. 0.17% of the stock is currently owned by company insiders.

Procter & Gamble Price Performance

Shares of NYSE:PG traded down $1.13 during trading on Tuesday, reaching $149.14. The company had a trading volume of 870,807 shares, compared to its average volume of 6,204,012. The company has a fifty day moving average of $149.19 and a two-hundred day moving average of $150.62. The company has a current ratio of 0.67, a quick ratio of 0.48 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $351.51 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47. The Procter & Gamble Company has a 12 month low of $135.83 and a 12 month high of $158.38.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Wednesday, October 18th. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.12. The firm had revenue of $21.87 billion during the quarter, compared to analysts’ expectations of $21.58 billion. Procter & Gamble had a return on equity of 33.49% and a net margin of 18.30%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.57 EPS. Equities research analysts forecast that The Procter & Gamble Company will post 6.42 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Friday, October 20th were paid a dividend of $0.9407 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.52%. Procter & Gamble’s dividend payout ratio (DPR) is currently 61.04%.

Procter & Gamble Company 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.