MetLife Investment Management LLC Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

MetLife Investment Management LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 636,193 shares of the company’s stock after selling 17,741 shares during the period. Procter & Gamble comprises 0.6% of MetLife Investment Management LLC’s holdings, making the stock its 20th largest position. MetLife Investment Management LLC’s holdings in Procter & Gamble were worth $110,189,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble during the second quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble during the 2nd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the 3rd quarter worth approximately $33,000. POM Investment Strategies LLC purchased a new stake in shares of Procter & Gamble in the second quarter worth $34,000. Finally, Quest Partners LLC purchased a new stake in Procter & Gamble during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analysts Set New Price Targets

PG has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. Evercore ISI increased their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Wells Fargo & Company lifted their price objective on Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley upped their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Piper Sandler assumed coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.45.

Procter & Gamble Trading Up 0.1 %

Procter & Gamble stock opened at $179.54 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The firm’s 50 day moving average price is $170.11 and its 200-day moving average price is $168.83. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $179.54. The stock has a market cap of $422.82 billion, a P/E ratio of 30.92, a PEG ratio of 3.82 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 earnings per share. On average, equities analysts predict that The Procter & Gamble Company will post 6.96 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.24%. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.48%.

Insider Transactions at Procter & Gamble

In other news, CEO Jon R. Moeller sold 7,007 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the transaction, the chief executive officer now directly owns 269,172 shares in the company, valued at approximately $46,203,373.80. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the transaction, the insider now owns 11,595 shares in the company, valued at $2,002,804.35. This represents a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,233 shares of company stock worth $6,024,234 in the last three months. Insiders own 0.18% of the company’s stock.

Procter & Gamble 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.