Royal London Asset Management Ltd. Sells 11,990 Shares of PG&E Co. (NYSE:PCG)

Royal London Asset Management Ltd. lessened its stake in shares of PG&E Co. (NYSE:PCG) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,216,947 shares of the utilities provider’s stock after selling 11,990 shares during the quarter. Royal London Asset Management Ltd.’s holdings in PG&E were worth $24,558,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in PG&E by 17.7% during the 4th quarter. Signaturefd LLC now owns 13,278 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 1,998 shares during the period. Parallel Advisors LLC boosted its stake in PG&E by 3.1% during the 4th quarter. Parallel Advisors LLC now owns 37,738 shares of the utilities provider’s stock valued at $762,000 after purchasing an additional 1,120 shares during the period. Cibc World Markets Corp boosted its stake in PG&E by 19.0% during the 4th quarter. Cibc World Markets Corp now owns 337,878 shares of the utilities provider’s stock valued at $6,818,000 after purchasing an additional 53,982 shares during the period. Corient Private Wealth LLC boosted its stake in PG&E by 21.3% during the 4th quarter. Corient Private Wealth LLC now owns 182,541 shares of the utilities provider’s stock valued at $3,683,000 after purchasing an additional 32,043 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in PG&E by 200.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 59,602 shares of the utilities provider’s stock valued at $1,203,000 after purchasing an additional 39,790 shares during the period. Institutional investors own 78.56% of the company’s stock.

Insider Activity at PG&E

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the sale, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PCG shares. Barclays decreased their target price 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. Mizuho upped their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Morgan Stanley upped their price target on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday. BMO Capital Markets upped their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PG&E has an average rating of “Moderate Buy” and a consensus price target of $22.05.

PG&E Trading Down 1.7 %

Shares of PCG opened at $16.91 on Friday. PG&E Co. has a 1 year low of $14.99 and a 1 year 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 50 day simple moving average of $16.16 and a 200-day simple moving average of $18.79. The stock has a market cap of $45.16 billion, a PE ratio of 14.70, a PEG ratio of 1.09 and a beta of 1.04.

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

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued 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 yield of 0.59%. PG&E’s dividend payout ratio is 8.70%.

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.