Livforsakringsbolaget Skandia Omsesidigt Trims Stock Position in PG&E Co. (NYSE:PCG)

Livforsakringsbolaget Skandia Omsesidigt decreased its position in shares of PG&E Co. (NYSE:PCG) by 65.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,200 shares of the utilities provider’s stock after selling 4,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PG&E were worth $44,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Czech National Bank grew its stake in PG&E by 8.9% during the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after buying an additional 38,590 shares during the last quarter. State Street Corp boosted its holdings in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after acquiring an additional 5,191,463 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in shares of PG&E by 259.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after acquiring an additional 44,650 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of PG&E in the 4th quarter valued at $514,000. Finally, Merit Financial Group LLC purchased a new stake in PG&E in the 4th quarter valued at $336,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays lowered their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Jefferies Financial Group initiated coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. UBS Group reduced their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. BMO Capital Markets assumed coverage on PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price on the stock. Finally, Mizuho upped their price target on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and a consensus target price of $22.36.

Insiders Place Their Bets

In other news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

PG&E Trading Down 1.6 %

Shares of PCG stock opened at $15.34 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 debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The business’s fifty day moving average price is $18.53 and its 200 day moving average price is $19.30. The firm has a market capitalization of $40.13 billion, a PE ratio of 11.99, a P/E/G ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. As a group, sell-side analysts forecast that PG&E Co. will post 1.36 EPS for the current fiscal year.

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.