Corebridge Financial Inc. Sells 31,656 Shares of The Procter & Gamble Company (NYSE:PG)

Corebridge Financial Inc. trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 541,262 shares of the company’s stock after selling 31,656 shares during the quarter. Procter & Gamble makes up about 0.5% of Corebridge Financial Inc.’s investment portfolio, making the stock its 21st biggest position. Corebridge Financial Inc.’s holdings in Procter & Gamble were worth $90,743,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Procter & Gamble during the 4th quarter worth about $1,010,685,000. Geode Capital Management LLC raised its stake in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after acquiring an additional 3,619,466 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after purchasing an additional 2,973,757 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after purchasing an additional 1,760,214 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in Procter & Gamble by 25,115.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,736,857 shares of the company’s stock worth $291,184,000 after purchasing an additional 1,729,969 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Shares of PG opened at $166.60 on Monday. The stock has a 50 day simple moving average of $167.97 and a 200 day simple moving average of $169.65. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The firm has a market capitalization of $390.66 billion, a PE ratio of 26.53, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.42%. Procter & Gamble’s dividend payout ratio (DPR) is 64.01%.

Insider Transactions at Procter & Gamble

In other news, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,785,274.66. This represents a 44.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock valued at $23,988,008 over the last three months. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

PG has been the topic of a number of recent research reports. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. DA Davidson reiterated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Piper Sandler dropped their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Stifel Nicolaus raised their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Finally, Barclays increased their price objective on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.47.

Procter & Gamble Profile

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.