Everence Capital Management Inc. Has $10.88 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Everence Capital Management Inc. cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,906 shares of the company’s stock after selling 29,270 shares during the period. Procter & Gamble comprises approximately 0.7% of Everence Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Everence Capital Management Inc.’s holdings in Procter & Gamble were worth $10,881,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Procter & Gamble in the second quarter valued at about $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the second quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in Procter & Gamble in the 3rd quarter valued at approximately $33,000. Quest Partners LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD bought a new stake in Procter & Gamble during the 2nd quarter worth approximately $44,000. 65.77% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of Procter & Gamble stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the sale, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,439 shares of company stock worth $13,317,460 over the last quarter. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 0.1 %

Shares of NYSE:PG traded up $0.12 during trading on Friday, reaching $166.10. 1,235,291 shares of the stock were exchanged, compared to its average volume of 3,241,465. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43. The stock has a fifty day moving average of $170.27 and a two-hundred day moving average of $169.85. 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 has a market cap of $391.17 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 3.70 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Research analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.42%. Procter & Gamble’s payout ratio is 69.31%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PG shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Piper Sandler began coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective for the company. Evercore ISI upped their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Morgan Stanley raised their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $180.45.

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.