Russell Investments Group Ltd. Boosts Stake in PG&E Co. (NYSE:PCG)

Russell Investments Group Ltd. grew its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,629,672 shares of the utilities provider's stock after buying an additional 193,516 shares during the period. Russell Investments Group Ltd. owned 0.10% of PG&E worth $53,066,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc boosted its holdings in PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock worth $31,000 after acquiring an additional 626 shares in the last quarter. UMB Bank n.a. increased its stake in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock valued at $80,000 after purchasing an additional 1,506 shares in the last quarter. First Horizon Advisors Inc. raised its holdings 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 worth $110,000 after buying an additional 4,819 shares during the last quarter. Sierra Ocean LLC bought a new position in shares of PG&E in the fourth quarter worth approximately $111,000. Finally, Huntington National Bank grew its holdings in shares of PG&E by 24.9% during the fourth 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 last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

PG&E Stock Performance

NYSE PCG traded up $0.46 during trading hours on Friday, hitting $16.93. 13,590,720 shares of the company's stock traded hands, compared to its average volume of 16,325,781. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The firm has a market capitalization of $45.21 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.09 and a beta of 0.70. The business's fifty day moving average price is $16.35 and its two-hundred day moving average price is $18.43.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $6.63 billion during 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 period in the prior year, the business posted $0.47 EPS. Equities research analysts predict that PG&E Co. will post 1.49 EPS 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 issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Monday, March 31st. PG&E's dividend payout ratio is 8.70%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PCG shares. UBS Group lowered shares of PG&E from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. BMO Capital Markets boosted their target price on PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Morgan Stanley raised their price target 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. Finally, Guggenheim cut shares of PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.05.

Insiders Place Their Bets

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of the company's stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now directly owns 14,864 shares of the company's stock, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the business's stock in a transaction on 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 in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. 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.