Groupama Asset Managment Acquires 1,770,821 Shares of PG&E Co. (NYSE:PCG)

Groupama Asset Managment lifted its holdings in PG&E Co. (NYSE:PCG) by 941.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,958,995 shares of the utilities provider’s stock after acquiring an additional 1,770,821 shares during the period. Groupama Asset Managment’s holdings in PG&E were worth $39,533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCG. Glenmede Trust Co. NA lifted its stake in shares of PG&E by 15.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 2,878 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in PG&E by 3.5% in the third quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider’s stock worth $544,000 after buying an additional 928 shares during the last quarter. Paloma Partners Management Co purchased a new position in PG&E during the third quarter worth $1,493,000. Atom Investors LP increased its position in PG&E by 13.1% during the third quarter. Atom Investors LP now owns 61,292 shares of the utilities provider’s stock valued at $1,212,000 after acquiring an additional 7,096 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of PG&E by 11.9% in the third quarter. Janus Henderson Group PLC now owns 336,247 shares of the utilities provider’s stock valued at $6,646,000 after acquiring an additional 35,700 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Price Performance

Shares of PCG stock opened at $17.19 on Tuesday. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a fifty day simple moving average of $16.21 and a two-hundred day simple moving average of $18.65. The stock has a market capitalization of $45.91 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.09 and a beta of 1.04.

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

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. 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. BMO Capital Markets boosted their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Barclays reduced their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.05.

Insiders Place Their Bets

In related news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the purchase, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now directly owns 183,635 shares of the company’s stock, 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 owned by company insiders.

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.