Amalgamated Bank Has $83.96 Million Holdings in The Procter & Gamble Company (NYSE:PG)

Amalgamated Bank cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 572,922 shares of the company’s stock after selling 28,140 shares during the period. Procter & Gamble accounts for approximately 0.7% of Amalgamated Bank’s holdings, making the stock its 19th biggest holding. Amalgamated Bank’s holdings in Procter & Gamble were worth $83,956,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PG. Cerity Partners LLC raised its position in shares of Procter & Gamble by 106.2% in the 4th quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock valued at $898,943,000 after acquiring an additional 3,159,796 shares during the period. Wellington Management Group LLP increased its stake in Procter & Gamble by 9.4% during the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares in the last quarter. International Assets Investment Management LLC increased its stake in Procter & Gamble by 13,850.3% during the 4th quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after purchasing an additional 2,727,685 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Procter & Gamble by 235.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock worth $473,475,000 after purchasing an additional 2,268,805 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Procter & Gamble during the 3rd quarter worth approximately $246,412,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PG. Wells Fargo & Company increased their target price on Procter & Gamble from $162.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Stifel Nicolaus raised their price target on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Jefferies Financial Group raised their target price on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. The Goldman Sachs Group began coverage on shares of Procter & Gamble in a research report on Friday, March 1st. They set a “neutral” rating and a $168.00 price target on the stock. Finally, Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.76.

Procter & Gamble Stock Performance

Shares of NYSE PG traded up $0.58 during trading hours on Thursday, reaching $163.98. 3,569,355 shares of the stock were exchanged, compared to its average volume of 6,907,679. The stock’s fifty day simple moving average is $159.88 and its 200 day simple moving average is $153.97. The firm has a market capitalization of $387.02 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 3.31 and a beta of 0.43. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $164.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Sell-side analysts predict that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Thursday, April 18th. Procter & Gamble’s payout ratio is presently 65.85%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the transaction, the insider now directly owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the transaction, the insider now directly owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the sale, the chief executive officer now directly owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,865 shares of company stock worth $14,059,180. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.