Bank of Nova Scotia Has $137.83 Million Stake in The Procter & Gamble Company (NYSE:PG)

Bank of Nova Scotia lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 822,127 shares of the company’s stock after selling 137,803 shares during the quarter. Bank of Nova Scotia’s holdings in Procter & Gamble were worth $137,834,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Howard Capital Management Group LLC raised its stake in shares of Procter & Gamble by 1.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock valued at $1,442,000 after acquiring an additional 82 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Procter & Gamble by 14.7% in the third quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock valued at $820,031,000 after purchasing an additional 608,168 shares during the period. United Bank lifted its stake in shares of Procter & Gamble by 1.7% in the third quarter. United Bank now owns 13,367 shares of the company’s stock worth $2,315,000 after buying an additional 219 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new stake in shares of Procter & Gamble during the 3rd quarter worth $201,000. Finally, Raab & Moskowitz Asset Management LLC grew its stake in Procter & Gamble by 5.4% in the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 13,471 shares of the company’s stock valued at $2,333,000 after buying an additional 686 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Down 2.2 %

PG stock opened at $160.08 on Tuesday. The business has a fifty day moving average price of $168.98 and a 200 day moving average price of $169.04. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The stock has a market capitalization of $375.36 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.76 and a beta of 0.43.

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

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.52%. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.01%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PG. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. DA Davidson restated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Wells Fargo & Company upped their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Truist Financial boosted their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, April 3rd. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock worth $23,988,008 over the last 90 days. 0.18% of the stock is owned by insiders.

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.