Russell Investments Group Ltd. Buys 193,516 Shares of PG&E Co. (NYSE:PCG)

Russell Investments Group Ltd. raised its position in PG&E Co. (NYSE:PCG) by 7.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,629,672 shares of the utilities provider’s stock after buying an additional 193,516 shares during the quarter. Russell Investments Group Ltd.’s holdings in PG&E were worth $53,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its holdings in PG&E by 3.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider’s stock worth $544,000 after purchasing an additional 928 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of PG&E by 11.9% during the third quarter. Janus Henderson Group PLC now owns 336,247 shares of the utilities provider’s stock worth $6,646,000 after buying an additional 35,700 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of PG&E by 55.1% during the third quarter. Integrated Wealth Concepts LLC now owns 31,990 shares of the utilities provider’s stock worth $632,000 after buying an additional 11,366 shares during the last quarter. IHT Wealth Management LLC bought a new position in PG&E in the third quarter valued at approximately $262,000. Finally, Quantinno Capital Management LP boosted its stake in PG&E by 31.8% in the third quarter. Quantinno Capital Management LP now owns 81,594 shares of the utilities provider’s stock valued at $1,613,000 after acquiring an additional 19,709 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at $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 owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays dropped their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Morgan Stanley increased their target price on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Thursday, March 20th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.05.

PG&E Stock Performance

Shares of PCG opened at $16.46 on Monday. The firm’s 50 day moving average price is $16.25 and its two-hundred day moving average price is $18.58. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The firm has a market cap of $43.97 billion, a P/E ratio of 14.31, a PEG ratio of 1.09 and a beta of 0.70.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the firm posted $0.47 EPS. On average, analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm 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 dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, March 31st. PG&E’s payout ratio is 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.