Corebridge Financial Inc. Has $90.74 Million Position in The Procter & Gamble Company (NYSE:PG)

Corebridge Financial Inc. lowered its stake in The Procter & Gamble Company (NYSE:PG) by 5.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 541,262 shares of the company’s stock after selling 31,656 shares during the period. Procter & Gamble comprises approximately 0.5% of Corebridge Financial Inc.’s investment portfolio, making the stock its 21st biggest position. Corebridge Financial Inc.’s holdings in Procter & Gamble were worth $90,743,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC lifted its holdings in shares of Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after buying an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Procter & Gamble during the third quarter worth about $33,000. LFA Lugano Financial Advisors SA bought a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $34,000. Atlantic Private Wealth LLC lifted its stake in Procter & Gamble by 95.3% during the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after purchasing an additional 101 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in Procter & Gamble in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PG. JPMorgan Chase & Co. lowered their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Piper Sandler dropped their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Barclays upped their price target on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, UBS Group reissued a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.47.

Procter & Gamble Trading Down 0.6 %

PG opened at $166.60 on Monday. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The firm has a market capitalization of $390.66 billion, a PE ratio of 26.53, a P/E/G ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The company’s 50-day moving average is $167.97 and its 200 day moving average is $169.65.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same quarter last year, the company earned $1.84 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.42%. Procter & Gamble’s payout ratio is 64.01%.

Insider Activity

In other news, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the transaction, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock worth $23,988,008 over the last quarter. Insiders own 0.18% of the company’s stock.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.