Russell Investments Group Ltd. Has $53.07 Million Stake in PG&E Co. (NYSE:PCG)

Russell Investments Group Ltd. grew its stake in PG&E Co. (NYSE:PCG) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,629,672 shares of the utilities provider’s stock after buying an additional 193,516 shares during the period. Russell Investments Group Ltd. owned approximately 0.10% of PG&E worth $53,066,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings 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 worth $31,000 after purchasing an additional 626 shares during the last quarter. UMB Bank n.a. raised its position in shares of PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after buying an additional 4,819 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of PG&E during the 4th quarter worth $111,000. Finally, Huntington National Bank grew its stake in PG&E by 24.9% in the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider’s stock valued at $122,000 after buying an additional 1,205 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the transaction, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PCG. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Barclays lowered their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. BMO Capital Markets upped their price target on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Finally, Morgan Stanley upped their target price on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.05.

PG&E Price Performance

Shares of PG&E stock opened at $16.46 on Monday. The firm has a market cap of $43.97 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The firm’s 50-day simple moving average is $16.25 and its 200-day simple moving average is $18.58. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. 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 (NYSE:PCG) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the company earned $0.47 earnings per share. As a group, research analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.61%. PG&E’s dividend payout ratio is currently 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.