British Columbia Investment Management Corp Reduces Stake in Procter & Gamble

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp has decreased its investment in The Procter & Gamble Company (NYSE:PG) by 12.6% during the third quarter, according to its latest filing with the Securities and Exchange Commission (SEC). After selling 56,862 shares, the firm now holds 393,834 shares of the company. At the end of the most recent reporting period, their holdings in Procter & Gamble were valued at approximately $68,212,000.

Recent Institutional Activity

Several other institutional investors and hedge funds have also adjusted their stakes in Procter & Gamble recently. For example, International Assets Investment Management LLC dramatically increased its ownership by 19,030.8% in the third quarter, acquiring 3,674,286 additional shares to reach a total of 3,693,593 shares, valued at about $639,730,000. Wulff Hansen & CO. similarly raised its holdings by 16,292.0%, now owning 3,675,902 shares worth $606,230,000 after acquiring 3,653,477 shares.

Additionally, B. Metzler seel. Sohn & Co. Holding AG made significant investments, purchasing a new stake valued at $301,950,000 during the third quarter. AMF Tjanstepension AB also saw a remarkable increase, growing their stake by 416.1% with 1,818,490 shares now valued at $315,016,000. Likewise, Icon Wealth Advisors LLC expanded their position by 4,621.9%, holding 1,285,923 shares worth $222,722,000. Overall, institutional investors and hedge funds own approximately 65.77% of Procter & Gamble's stock.

Insider Transactions

In addition to institutional activities, there have been notable insider transactions recently. CEO Jon R. Moeller sold 7,007 shares of Procter & Gamble on October 2nd at an average price of $171.65, totaling $1,202,751.55. Following this sale, Moeller's holdings decreased by 2.54%, leaving him with 269,172 shares valued at $46,203,373.80. Another insider, Balaji Purushothaman, sold 12,800 shares on October 24th for $2,163,072.00, representing a 52.53% reduction in ownership to 11,566 shares worth $1,954,538.34. Over the past three months, insiders have collectively sold 35,233 shares worth $6,024,234, with corporate insiders owning about 0.18% of the stock.

Analyst Ratings Overview

Procter & Gamble has been the subject of various analyst reports. For instance, Wells Fargo & Company raised their price target from $188.00 to $190.00 and rated the stock as "overweight" in a report dated November 22nd. Similarly, JPMorgan Chase & Co. upgraded its price target from $179.00 to $186.00, also issuing an "overweight" rating. Additionally, Evercore ISI set its price objective from $180.00 to $183.00, branding the stock as "outperform." HSBC Global Research upgraded Procter & Gamble to a "strong-buy" rating, while Royal Bank of Canada maintained a "sector perform" rating with a price target of $164.00. Analysts have mixed views on the stock, with eight rating it as a hold, fourteen as a buy, and two giving it a strong buy, leading to a consensus rating of "Moderate Buy" with an average target price of $180.45.

Procter & Gamble’s Stock Performance and Dividend Announcement

The stock opened at $179.37 last Friday, with a market capitalization of $422.42 billion. It has a P/E ratio of 30.93, a price-to-earnings growth ratio of 3.86, and a beta of 0.42. The 50-day moving average is $170.48 while the 200-day moving average is $169.07. The stock has seen a low of $142.50 and a high of $180.43 over the past year. Procter & Gamble reported quarterly earnings on October 18th, achieving an EPS of $1.93, slightly surpassing analysts’ expectations of $1.90. The revenue for the quarter was reported at $21.74 billion, below expectations of $21.99 billion.

Recently, the company announced its quarterly dividend, which was paid on November 15th. Shareholders recorded on October 18th received a dividend of $1.0065. This translates to an annualized dividend of $4.03, yielding 2.24%. Procter & Gamble's current dividend payout ratio is 69.31%.

Procter & Gamble Company Overview

The Procter & Gamble Company specializes in branded consumer packaged goods. It operates through five key segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Beauty segment offers a range of products including conditioners, shampoos, and treatments under popular brands such as Head & Shoulders, Pantene, and Olay. Its diverse portfolio positions Procter & Gamble as a leading company in the consumer goods sector.

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