The Manufacturers Life Insurance Company reduced its position in Procter & Gamble (NYSE:PG) by 0.6% during the fourth quarter, according to its latest disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,988,676 shares of the company’s stock after selling 12,218 shares during the period, valued at $333.4 million.
Other large investors have also adjusted their positions in PG. NewSquare Capital LLC increased its holdings by 933.3%, now owning 155 shares valued at $26,000. Hoey Investments Inc. lifted its position by 321.7%, owning 194 shares worth $33,000. LFA Lugano Financial Advisors SA purchased a new position valued at approximately $34,000, while Atlantic Private Wealth LLC increased its stake by 95.3% to 207 shares worth $35,000. Prudent Man Investment Management Inc. acquired a new stake valued at $38,000.
Institutional investors and hedge funds collectively own 65.77% of Procter & Gamble’s stock. Notably, CEO Gary A. Coombe sold 18,000 shares on February 25th at an average price of $171.66, reducing his ownership by 44.94%. The company’s stock opened at $161.04 on Monday, with a market capitalization of $377.61 billion.
Procter & Gamble recently declared a quarterly dividend of $1.0568 per share, payable on May 15th to investors of record on April 21st. This represents a $4.23 annualized dividend and a 2.62% yield. Analysts have issued various ratings: Erste Group Bank upgraded to ‘strong-buy’, Morgan Stanley set a $180 price objective with an ‘overweight’ rating, while JPMorgan Chase & Co. maintained an ‘overweight’ rating with a $172 target price.
