Allstate Corp Increases Stock Position in The Procter & Gamble Company (NYSE:PG)

Allstate Corp grew its stake in The Procter & Gamble Company (NYSE:PG) by 3,290.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 69,914 shares of the company’s stock after acquiring an additional 67,852 shares during the period. Allstate Corp’s holdings in Procter & Gamble were worth $11,721,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. NewSquare Capital LLC grew its position in Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $34,000. Atlantic Private Wealth LLC grew its holdings in shares of Procter & Gamble by 95.3% in the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock valued at $35,000 after purchasing an additional 101 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in Procter & Gamble during the 4th quarter worth approximately $39,000. Finally, Bay Harbor Wealth Management LLC lifted its holdings in Procter & Gamble by 972.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after buying an additional 243 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Down 0.5 %

NYSE:PG opened at $167.94 on Friday. The company has a market capitalization of $393.80 billion, a PE ratio of 26.74, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The stock’s 50 day moving average price is $168.60 and its 200 day moving average price is $169.41. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same period last year, the firm posted $1.84 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PG. Stifel Nicolaus upped their price objective on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Erste Group Bank raised Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Piper Sandler lowered their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, UBS Group reissued a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $181.82.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock worth $23,988,008 in the last quarter. Company insiders own 0.18% of the company’s stock.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.