Aviva PLC Reduces Holdings in PG&E Co. (NYSE:PCG)

Aviva PLC cut its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing 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 owned approximately 0.06% of PG&E worth $34,003,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock valued at $31,000 after buying an additional 626 shares during the period. UMB Bank n.a. increased its stake in PG&E by 61.5% during the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock worth $80,000 after acquiring an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. raised its position in PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after purchasing an additional 4,819 shares during the period. Sierra Ocean LLC purchased a new stake in PG&E in the fourth quarter valued at $111,000. Finally, Huntington National Bank lifted 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 purchasing an additional 1,205 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PG&E

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

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PG&E Stock Up 2.0 %

NYSE PCG traded up $0.33 during trading hours on Friday, hitting $16.80. 2,979,034 shares of the company were exchanged, compared to its average volume of 16,252,612. The company has a 50 day moving average of $16.32 and a two-hundred day moving average of $18.45. 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 firm has a market cap of $44.88 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.09 and a beta of 0.70. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts' consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities research analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.60%. PG&E's payout ratio is currently 8.70%.

Wall Street Analyst Weigh In

PCG has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a report on Thursday, March 20th. BMO Capital Markets boosted their price target on shares of PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Barclays dropped their target price on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. Finally, UBS Group cut PG&E from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PG&E currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.05.

About PG&E

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.