Flputnam Investment Management Co. Takes $12.72 Million Stake in Procter & Gamble
Financial news reports that Flputnam Investment Management Co. has taken a significant position in Procter & Gamble Company (The) (NYSE:PG), purchasing approximately $12,722,000 worth of shares during the second quarter.
The company acquired 86,757 shares of Procter & Gamble's stock, according to its latest filing with the Securities and Exchange Commission (SEC). This new position is part of a larger trend of institutional investors and hedge funds increasing their holdings in the multinational consumer goods company.
Procter & Gamble has seen significant investment activity in recent quarters, with Norges Bank acquiring a new position worth $4,664,783,000 during the fourth quarter. Additionally, Vanguard Group Inc. raised its holdings by 1.2% and now owns 237,459,756 shares of Procter & Gamble's stock.
The company has reported strong earnings and revenue growth, with a return on equity of 31.36% and a net margin of 18.44%. The business also recently announced a quarterly dividend of $1.0885 per share, representing an annualized yield of 3.0%.