Diversify Advisory Services LLC Trims Stock Position in PG&E Co. (NYSE:PCG)

Diversify Advisory Services LLC cut its stake in shares of PG&E Co. (NYSE:PCG) by 25.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,692 shares of the utilities provider’s stock after selling 9,324 shares during the quarter. Diversify Advisory Services LLC’s holdings in PG&E were worth $549,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Rothschild Investment LLC purchased a new position in shares of PG&E during the second quarter worth approximately $30,000. UMB Bank n.a. increased its position in shares of PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. boosted its stake in shares of PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of PG&E during the second quarter valued at approximately $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of PG&E by 48.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 1,179 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Trading Up 0.4 %

NYSE:PCG opened at $20.21 on Thursday. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $20.93. The firm has a fifty day simple moving average of $19.84 and a 200-day simple moving average of $18.55. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $52.84 billion, a P/E ratio of 17.27, a PEG ratio of 1.56 and a beta of 1.01.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. PG&E’s payout ratio is currently 3.42%.

Insider Buying and Selling

In related news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PCG. Jefferies Financial Group began coverage on shares of PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group raised their target price on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays raised their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.