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

Groupama Asset Managment boosted its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 941.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 owned approximately 0.07% of PG&E worth $39,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of PG&E by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after acquiring an additional 6,151,233 shares during the period. State Street Corp raised its stake in shares of PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Geode Capital Management LLC lifted its holdings in shares of PG&E by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock valued at $1,046,462,000 after purchasing an additional 2,151,494 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of PG&E by 6.4% during the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider's stock worth $598,142,000 after buying an additional 1,822,835 shares during the period. Finally, Norges Bank acquired a new position in PG&E during the 4th quarter worth approximately $591,625,000. 78.56% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now owns 14,864 shares of the company's stock, valued at approximately $232,770.24. This represents 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 company insiders.

Wall Street Analysts Forecast Growth

PCG has been the topic of several analyst reports. UBS Group cut shares of PG&E from a "buy" rating to a "neutral" rating and cut their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. BMO Capital Markets upped their target price on PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Barclays decreased 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. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Finally, Morgan Stanley boosted their target price on shares of PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.05.

PG&E Stock Performance

PCG traded down $0.18 on Thursday, reaching $17.26. The company had a trading volume of 25,299,744 shares, compared to its average volume of 15,975,939. The company's fifty day moving average is $16.23 and its 200 day moving average is $18.63. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The stock has a market cap of $46.09 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.09 and a beta of 1.04. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last announced 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. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.47 earnings per share. As a group, analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E's dividend payout ratio is currently 8.70%.

PG&E Company 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.