PG&E Co. (NYSE:PCG) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 64.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,970 shares of the utilities provider's stock after selling 358,007 shares during the quarter. QRG Capital Management Inc.'s holdings in PG&E were worth $3,855,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in PG&E during the 2nd quarter valued at $30,000. UMB Bank n.a. raised its holdings in shares of PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 1,011 shares in the last quarter. Blue Trust Inc. lifted its stake in PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider's stock worth $40,000 after acquiring an additional 1,027 shares during the period. Plato Investment Management Ltd bought a new position in PG&E during the 2nd quarter worth about $44,000. Finally, Massmutual Trust Co. FSB ADV increased its position in PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 1,179 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Insider Transactions at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the transaction, the vice president now owns 19,114 shares in the company, valued at approximately $350,168.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company's stock.

PG&E Stock Performance

PCG stock traded up $0.13 during trading on Thursday, reaching $20.38. The company had a trading volume of 14,357,944 shares, compared to its average volume of 13,806,571. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. PG&E Co. has a twelve month low of $15.94 and a twelve month high of $20.93. The company has a market cap of $53.30 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03. The firm has a 50-day simple moving average of $19.99 and a 200-day simple moving average of $18.70.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E's dividend payout ratio is presently 3.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of PG&E in a research note on Monday, October 14th. They set a "buy" rating and a $24.00 price objective on the stock. Barclays lifted their price target on PG&E from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, October 21st. UBS Group upped their price objective on PG&E from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Morgan Stanley lifted their target price on PG&E from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their target price on shares of PG&E from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, PG&E presently has an average rating of "Moderate Buy" and a consensus target price of $22.80.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.