Aviva PLC Sells 31,573 Shares of PG&E Co. (NYSE:PCG)

Aviva PLC lowered its holdings in shares of PG&E Co. (NYSE:PCG) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,684,990 shares of the utilities provider’s stock after selling 31,573 shares during the period. Aviva PLC’s holdings in PG&E were worth $34,003,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. bought a new stake in shares of PG&E in the 4th quarter valued at $14,333,000. Prudential PLC raised its holdings in shares of PG&E by 581.7% during the fourth quarter. Prudential PLC now owns 207,154 shares of the utilities provider’s stock valued at $4,180,000 after purchasing an additional 176,764 shares during the period. World Investment Advisors bought a new position in shares of PG&E during the 4th quarter worth about $203,000. Huntington National Bank grew its stake in shares of PG&E by 24.9% in the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider’s stock valued at $122,000 after buying an additional 1,205 shares during the period. Finally, Groupama Asset Managment increased its position in PG&E by 941.1% in the 4th quarter. Groupama Asset Managment now owns 1,958,995 shares of the utilities provider’s stock valued at $39,533,000 after buying an additional 1,770,821 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PCG has been the topic of several recent research reports. Morgan Stanley increased their price target on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. BMO Capital Markets lifted their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Finally, Barclays cut their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.05.

Insider Buying and Selling

In other news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

PG&E Price Performance

Shares of NYSE PCG opened at $16.46 on Monday. The company has a market capitalization of $43.97 billion, a PE ratio of 14.31, a PEG ratio of 1.09 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The stock’s 50 day moving average price is $16.25 and its 200-day moving average price is $18.58. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter in the previous year, the firm earned $0.47 earnings per share. On average, equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.025 per share. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.61%. PG&E’s payout ratio is currently 8.70%.

PG&E Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.