Texas Capital Bank Wealth Management Services Inc Boosts Holdings in The Procter & Gamble Company (NYSE:PG)

Texas Capital Bank Wealth Management Services Inc lifted its stake in The Procter & Gamble Company (NYSE:PG) by 32.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,953 shares of the company’s stock after buying an additional 1,930 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Procter & Gamble were worth $1,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sendero Wealth Management LLC increased its position in Procter & Gamble by 0.5% during the second quarter. Sendero Wealth Management LLC now owns 16,703 shares of the company’s stock valued at $2,755,000 after acquiring an additional 84 shares during the last quarter. SG Americas Securities LLC grew its holdings in Procter & Gamble by 13.6% during the 2nd quarter. SG Americas Securities LLC now owns 368,209 shares of the company’s stock valued at $60,725,000 after purchasing an additional 44,013 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Procter & Gamble by 1.9% in the 2nd quarter. Hexagon Capital Partners LLC now owns 11,389 shares of the company’s stock worth $1,878,000 after purchasing an additional 213 shares during the period. Atlas Private Wealth Advisors boosted its position in shares of Procter & Gamble by 104.7% during the second quarter. Atlas Private Wealth Advisors now owns 16,141 shares of the company’s stock valued at $2,662,000 after buying an additional 8,257 shares during the period. Finally, Francis Financial Inc. bought a new position in shares of Procter & Gamble during the second quarter valued at approximately $228,000. Institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Evercore ISI boosted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Piper Sandler initiated coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research report on Monday, September 30th. Finally, DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.45.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $176.07 on Friday. The stock has a market cap of $414.65 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 3.78 and a beta of 0.44. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $180.43. The company has a 50 day simple moving average of $170.75 and a two-hundred day simple moving average of $169.34. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter in the prior year, the business earned $1.83 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued 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 2.29%. Procter & Gamble’s payout ratio is 69.48%.

Insider Activity

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,080 shares of company stock worth $14,629,038 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

About Procter & Gamble

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.