Associated Banc Corp Cuts Stake in The Procter & Gamble Company (NYSE:PG)

Associated Banc Corp reduced its stake in The Procter & Gamble Company (NYSE:PG) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 249,898 shares of the company’s stock after selling 331 shares during the period. Procter & Gamble makes up 1.3% of Associated Banc Corp’s portfolio, making the stock its 17th largest holding. Associated Banc Corp’s holdings in Procter & Gamble were worth $43,282,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. Concurrent Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after acquiring an additional 4,035 shares during the last quarter. Radnor Capital Management LLC purchased a new position in Procter & Gamble in the 3rd quarter worth about $5,705,000. Welch Group LLC raised its stake in shares of Procter & Gamble by 0.9% during the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after acquiring an additional 2,990 shares in the last quarter. Swiss National Bank raised its position in Procter & Gamble by 0.6% during the 3rd quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after purchasing an additional 39,000 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Procter & Gamble by 67.2% in the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after acquiring an additional 10,777 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

Shares of NYSE PG traded up $1.93 during trading hours on Monday, reaching $178.21. The stock had a trading volume of 781,518 shares, compared to its average volume of 6,661,172. The firm has a 50-day moving average of $170.04 and a 200-day moving average of $168.66. The firm has a market cap of $419.69 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 3.81 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $178.74.

Procter & Gamble (NYSE:PG) last posted 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. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 earnings per share. Equities research analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.26%. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Insider Activity

In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now owns 263,537 shares in the company, valued at $44,508,763.93. The trade was a 12.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,673 shares of company stock valued at $10,102,753. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Evercore ISI increased their price target on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $180.45.

Procter & Gamble Company Profile

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.