Diversified Portfolios Inc. Cuts Stake in Procter & Gamble Co (PG)

Diversified Portfolios Inc. decreased its holdings in Procter & Gamble Co (NYSE:PG) by 13.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,143 shares of the company’s stock after selling 1,150 shares during the period. Procter & Gamble makes up about 0.3% of Diversified Portfolios Inc.’s holdings, making the stock its 27th biggest holding. Diversified Portfolios Inc.’s holdings in Procter & Gamble were worth $558,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PG. Franklin Resources Inc. boosted its stake in shares of Procter & Gamble by 63.1% in the 1st quarter. Franklin Resources Inc. now owns 11,150,063 shares of the company’s stock valued at $883,964,000 after purchasing an additional 4,315,180 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Procter & Gamble by 1.9% in the 1st quarter. BlackRock Inc. now owns 162,599,226 shares of the company’s stock valued at $12,890,867,000 after purchasing an additional 2,961,408 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Procter & Gamble by 17.9% in the 1st quarter. American Century Companies Inc. now owns 13,922,673 shares of the company’s stock valued at $1,103,790,000 after purchasing an additional 2,115,777 shares in the last quarter. Unigestion Holding SA purchased a new stake in shares of Procter & Gamble in the 2nd quarter valued at $112,171,000. Finally, Schroder Investment Management Group boosted its stake in shares of Procter & Gamble by 31.6% in the 1st quarter. Schroder Investment Management Group now owns 4,928,265 shares of the company’s stock valued at $390,712,000 after purchasing an additional 1,184,004 shares in the last quarter. 58.36% of the stock is owned by institutional investors.

Shares of PG opened at $81.86 on Thursday. The firm has a market cap of $209.82 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 2.68 and a beta of 0.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.83 and a quick ratio of 0.66. Procter & Gamble Co has a twelve month low of $70.73 and a twelve month high of $93.14.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 31st. The company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.04. Procter & Gamble had a net margin of 14.59% and a return on equity of 20.94%. The business had revenue of $16.50 billion during the quarter, compared to analyst estimates of $16.52 billion. During the same period in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Procter & Gamble Co will post 4.42 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be issued a $0.7172 dividend. The ex-dividend date is Thursday, October 18th. This represents a $2.87 annualized dividend and a yield of 3.50%. Procter & Gamble’s dividend payout ratio (DPR) is presently 68.01%.

In other Procter & Gamble news, Chairman David S. Taylor sold 21,029 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $83.52, for a total value of $1,756,342.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathleen B. Fish sold 26,946 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $80.55, for a total transaction of $2,170,500.30. The disclosure for this sale can be found here. Insiders sold a total of 147,186 shares of company stock valued at $12,080,849 over the last 90 days. Company insiders own 1.84% of the company’s stock.

Several brokerages have weighed in on PG. UBS Group set a $82.00 price target on shares of Procter & Gamble and gave the company a “hold” rating in a research report on Wednesday. SunTrust Banks increased their price target on shares of Procter & Gamble to $80.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Jefferies Financial Group cut shares of Procter & Gamble to a “hold” rating and set a $79.00 price target for the company. in a research report on Tuesday, July 31st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $88.00 price target on shares of Procter & Gamble in a research report on Wednesday, August 1st. Finally, Wells Fargo & Co reissued a “hold” rating and set a $78.00 price target on shares of Procter & Gamble in a research report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Procter & Gamble has a consensus rating of “Hold” and a consensus price target of $84.46.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

See Also: Dividend

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Co (NYSE:PG).

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply