Lenox Wealth Management Inc. Cuts Holdings in Procter & Gamble Co (NYSE:PG)

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Lenox Wealth Management Inc. lowered its position in shares of Procter & Gamble Co (NYSE:PG) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 422,732 shares of the company’s stock after selling 9,024 shares during the quarter. Procter & Gamble comprises 15.3% of Lenox Wealth Management Inc.’s investment portfolio, making the stock its biggest holding. Lenox Wealth Management Inc.’s holdings in Procter & Gamble were worth $52,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PG. Vanguard Group Inc. raised its holdings in shares of Procter & Gamble by 1.8% during the second quarter. Vanguard Group Inc. now owns 218,459,217 shares of the company’s stock valued at $23,954,054,000 after purchasing an additional 3,786,962 shares during the period. BlackRock Inc. raised its holdings in shares of Procter & Gamble by 1.5% in the 2nd quarter. BlackRock Inc. now owns 167,930,647 shares of the company’s stock worth $18,413,594,000 after acquiring an additional 2,470,382 shares during the last quarter. Phocas Financial Corp. raised its holdings in shares of Procter & Gamble by 999,937.0% in the 2nd quarter. Phocas Financial Corp. now owns 71,062,629 shares of the company’s stock worth $77,920,000 after acquiring an additional 71,055,523 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Procter & Gamble by 0.9% in the 2nd quarter. Northern Trust Corp now owns 33,064,470 shares of the company’s stock worth $3,625,519,000 after acquiring an additional 295,521 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Procter & Gamble by 6,899.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 18,416,894 shares of the company’s stock worth $2,019,412,000 after acquiring an additional 18,153,758 shares during the last quarter. 65.62% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on PG shares. UBS Group upped their target price on shares of Procter & Gamble from $122.00 to $126.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. SunTrust Banks upped their target price on shares of Procter & Gamble to $120.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Royal Bank of Canada restated a “neutral” rating and issued a $89.00 target price on shares of Procter & Gamble in a report on Tuesday, July 30th. Wells Fargo & Co increased their price objective on shares of Procter & Gamble from $135.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Procter & Gamble from $136.00 to $139.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $116.71.

In related news, insider Marc S. Pritchard sold 26,075 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $124.96, for a total value of $3,258,332.00. Following the completion of the transaction, the insider now directly owns 139,066 shares of the company’s stock, valued at approximately $17,377,687.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nelson Peltz sold 936,280 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $123.87, for a total transaction of $115,977,003.60. Following the completion of the transaction, the director now directly owns 3,844 shares of the company’s stock, valued at $476,156.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,645,966 shares of company stock valued at $202,229,770 over the last three months. Insiders own 1.75% of the company’s stock.

Shares of Procter & Gamble stock traded up $0.08 on Friday, reaching $119.70. 4,181,176 shares of the company traded hands, compared to its average volume of 7,798,948. Procter & Gamble Co has a 52 week low of $86.74 and a 52 week high of $125.77. The company has a 50 day moving average of $121.95 and a 200 day moving average of $115.01. The firm has a market capitalization of $296.51 billion, a PE ratio of 26.48, a PEG ratio of 3.23 and a beta of 0.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.54.

Procter & Gamble (NYSE:PG) last released its earnings results on Tuesday, October 22nd. The company reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.13. Procter & Gamble had a net margin of 6.24% and a return on equity of 25.07%. The firm had revenue of $17.80 billion during the quarter, compared to the consensus estimate of $17.43 billion. During the same period in the prior year, the firm earned $1.12 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that Procter & Gamble Co will post 4.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $0.7459 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, October 17th. Procter & Gamble’s dividend payout ratio is currently 65.93%.

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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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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