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

Royal London Asset Management Ltd. trimmed its position in PG&E Co. (NYSE:PCG) by 1.0% during the fourth quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares during the last quarter. Commerce Bank boosted its position in shares of PG&E by 1.5% in the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its position in shares of PG&E by 4.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 715 shares during the last quarter. Continuum Advisory LLC boosted its position in shares of PG&E by 11.4% in the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 769 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in shares of PG&E by 2.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after purchasing an additional 812 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PG&E

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of the firm’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 sale, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arno Lockheart Harris purchased 6,389 shares of the business’s 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 acquisition, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.

PG&E Price Performance

NYSE: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 firm has a fifty day simple moving average of $16.16 and a 200 day simple moving average of $18.79. The stock has a market capitalization of $45.16 billion, a PE ratio of 14.70, a P/E/G ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share 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 during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period last year, the business earned $0.47 earnings per share. On average, research analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 0.59%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio is 8.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price target on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Thursday. Mizuho raised their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. BMO Capital Markets raised their price objective on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed 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 given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, PG&E presently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

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.