Teachers Insurance & Annuity Association of America Takes $794,000 Position in The Procter & Gamble Company (NYSE:PG)

by · The Markets Daily

Teachers Insurance & Annuity Association of America bought a new position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,583 shares of the company’s stock, valued at approximately $794,000. Procter & Gamble comprises about 1.2% of Teachers Insurance & Annuity Association of America’s portfolio, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble during the second quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Procter & Gamble in the 3rd quarter worth about $33,000. POM Investment Strategies LLC bought a new position in Procter & Gamble in the 2nd quarter valued at about $34,000. Finally, Quest Partners LLC acquired a new position in Procter & Gamble during the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Up 0.0 %

Shares of PG traded up $0.05 during trading hours on Thursday, hitting $179.36. The company had a trading volume of 5,522,912 shares, compared to its average volume of 6,737,879. The firm has a market cap of $422.40 billion, a P/E ratio of 30.92, a P/E/G ratio of 3.82 and a beta of 0.42. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $180.43. The stock’s 50 day moving average price is $170.22 and its 200 day moving average price is $168.90. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly earnings data 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 return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, research analysts predict that The Procter & Gamble Company will post 6.96 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.24%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $180.45.

Get Our Latest Analysis on PG

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jon R. Moeller sold 7,007 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the sale, the chief executive officer now owns 269,172 shares in the company, valued at approximately $46,203,373.80. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,233 shares of company stock worth $6,024,234. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Profile

(Free Report)

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.

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