TIAA CREF Investment Management LLC Has $898.36 Million Stake in Procter & Gamble Co (PG)
TIAA CREF Investment Management LLC grew its stake in Procter & Gamble Co (NYSE:PG) by 23.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,793,640 shares of the company’s stock after buying an additional 2,078,176 shares during the quarter. Procter & Gamble accounts for about 0.6% of TIAA CREF Investment Management LLC’s portfolio, making the stock its 28th largest holding. TIAA CREF Investment Management LLC owned about 0.43% of Procter & Gamble worth $898,355,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PG. RPg Family Wealth Advisory LLC grew its position in shares of Procter & Gamble by 209.4% in the second quarter. RPg Family Wealth Advisory LLC now owns 1,349 shares of the company’s stock valued at $105,000 after purchasing an additional 913 shares in the last quarter. Ayalon Holdings Ltd. purchased a new stake in shares of Procter & Gamble in the third quarter valued at approximately $108,000. First Mercantile Trust Co. purchased a new stake in shares of Procter & Gamble in the third quarter valued at approximately $111,000. Willingdon Wealth Management grew its position in shares of Procter & Gamble by 4,668.6% in the third quarter. Willingdon Wealth Management now owns 1,669 shares of the company’s stock valued at $139,000 after purchasing an additional 1,634 shares in the last quarter. Finally, Polaris Greystone Financial Group LLC grew its position in Procter & Gamble by 224.9% in the third quarter. Polaris Greystone Financial Group LLC now owns 1,722 shares of the company’s stock worth $143,000 after acquiring an additional 1,192 shares during the period. 60.74% of the stock is owned by institutional investors.
Shares of PG traded up $0.71 during midday trading on Friday, hitting $102.03. 4,889,851 shares of the stock were exchanged, compared to its average volume of 9,486,317. Procter & Gamble Co has a 52-week low of $70.73 and a 52-week high of $101.78. The firm has a market cap of $252.23 billion, a P/E ratio of 24.18, a P/E/G ratio of 3.26 and a beta of 0.38. The company has a quick ratio of 0.61, a current ratio of 0.78 and a debt-to-equity ratio of 0.40.
The company also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, January 18th were given a dividend of $0.7172 per share. The ex-dividend date was Thursday, January 17th. This represents a $2.87 annualized dividend and a dividend yield of 2.81%. Procter & Gamble’s dividend payout ratio is currently 68.01%.
In other Procter & Gamble news, insider Gary A. Coombe sold 9,000 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $93.90, for a total transaction of $845,100.00. Following the transaction, the insider now owns 18,517 shares of the company’s stock, valued at $1,738,746.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider R. Alexandra Keith sold 3,027 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $98.57, for a total value of $298,371.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,270,496 shares of company stock valued at $224,931,027. Company insiders own 1.84% of the company’s stock.
PG has been the subject of several analyst reports. Zacks Investment Research reiterated a “hold” rating and issued a $102.00 price objective on shares of Procter & Gamble in a research report on Monday, December 31st. SunTrust Banks increased their price objective on Procter & Gamble to $95.00 and gave the stock a “hold” rating in a research report on Thursday, January 24th. They noted that the move was a valuation call. Wells Fargo & Co reiterated a “hold” rating and issued a $91.00 price objective on shares of Procter & Gamble in a research report on Wednesday, January 23rd. Bank of America reiterated a “buy” rating and issued a $108.00 price objective on shares of Procter & Gamble in a research report on Tuesday, January 8th. Finally, Citigroup increased their price objective on Procter & Gamble from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Monday, December 10th. Thirteen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Procter & Gamble has an average rating of “Hold” and a consensus target price of $96.21.
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About Procter & Gamble
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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