Aviva PLC Sells 31,573 Shares of PG&E Co. (NYSE:PCG)

Aviva PLC cut its position in PG&E Co. (NYSE:PCG) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,684,990 shares of the utilities provider’s stock after selling 31,573 shares during the quarter. Aviva PLC owned about 0.06% of PG&E worth $34,003,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PCG. Czech National Bank increased its position in PG&E by 8.9% during the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after acquiring an additional 38,590 shares during the period. New York State Teachers Retirement System boosted its stake in shares of PG&E by 8.2% in the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after buying an additional 148,860 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in PG&E during the 4th quarter worth $514,000. Atria Wealth Solutions Inc. acquired a new position in PG&E in the 4th quarter valued at $466,000. Finally, Merit Financial Group LLC bought a new stake in shares of PG&E during the 4th quarter valued at $336,000. Institutional investors own 78.56% of the company’s stock.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares in the company, valued at $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.

Analyst Upgrades and Downgrades

PCG has been the topic of a number of recent analyst reports. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Morgan Stanley upped their price target on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. restated 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 raised their target price 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 equities research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

PG&E Trading Down 4.6 %

NYSE PCG opened at $16.46 on Monday. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The business’s fifty day moving average is $16.25 and its 200 day moving average is $18.58. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company has a market cap of $43.97 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.

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

PG&E Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Monday, March 31st. PG&E’s payout ratio is 8.70%.

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.