Northwestern Mutual Wealth Management Co. Sells 75,402 Shares of Procter & Gamble Co (PG)
Northwestern Mutual Wealth Management Co. reduced its holdings in Procter & Gamble Co (NYSE:PG) by 16.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 381,203 shares of the company’s stock after selling 75,402 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Procter & Gamble were worth $29,757,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PG. RPg Family Wealth Advisory LLC boosted its stake in shares of Procter & Gamble by 209.4% in the second quarter. RPg Family Wealth Advisory LLC now owns 1,349 shares of the company’s stock worth $105,000 after acquiring an additional 913 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in shares of Procter & Gamble in the second quarter worth approximately $149,000. Clearwater Capital Advisors LLC acquired a new stake in shares of Procter & Gamble in the first quarter worth approximately $154,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Procter & Gamble by 296.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,038 shares of the company’s stock worth $162,000 after acquiring an additional 1,524 shares during the last quarter. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of Procter & Gamble in the first quarter worth approximately $170,000. 58.78% of the stock is currently owned by institutional investors.
In other Procter & Gamble news, insider Juan Fernando Posada sold 1,068 shares of Procter & Gamble stock in a transaction on Friday, November 30th. The stock was sold at an average price of $93.66, for a total value of $100,028.88. Following the sale, the insider now owns 26,739 shares in the company, valued at $2,504,374.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David S. Taylor sold 16,338 shares of Procter & Gamble stock in a transaction on Friday, November 16th. The shares were sold at an average price of $94.62, for a total value of $1,545,901.56. The disclosure for this sale can be found here. Insiders sold 502,927 shares of company stock worth $46,437,282 in the last 90 days. Company insiders own 1.84% of the company’s stock.
Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 19th. The company reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.03. Procter & Gamble had a return on equity of 21.20% and a net margin of 15.10%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.45 billion. During the same quarter in the previous year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts anticipate that Procter & Gamble Co will post 4.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Friday, October 19th were given a $0.7172 dividend. The ex-dividend date was Thursday, October 18th. This represents a $2.87 dividend on an annualized basis and a yield of 3.07%. Procter & Gamble’s dividend payout ratio is currently 68.01%.
A number of analysts have recently issued reports on the company. Wells Fargo & Co lifted their price target on Procter & Gamble from $78.00 to $84.00 and gave the stock a “market perform” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. UBS Group set a $82.00 price objective on Procter & Gamble and gave the stock a “hold” rating in a research note on Wednesday, October 17th. SunTrust Banks boosted their price objective on Procter & Gamble to $85.00 and gave the stock a “hold” rating in a research note on Monday, October 22nd. Stifel Nicolaus reissued a “hold” rating and set a $87.00 price objective on shares of Procter & Gamble in a research note on Monday, October 22nd. Finally, Zacks Investment Research lowered Procter & Gamble from a “hold” rating to a “sell” rating in a research note on Monday, October 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Procter & Gamble has an average rating of “Hold” and an average target price of $88.38.
Procter & Gamble Profile
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.
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