PG&E Co. (NYSE:PCG) Shares Bought by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI grew its holdings in shares of PG&E Co. (NYSE:PCG) by 272.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,560,305 shares of the utilities provider’s stock after purchasing an additional 2,604,445 shares during the period. Zurich Insurance Group Ltd FI owned approximately 0.14% of PG&E worth $71,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Level Four Advisory Services LLC boosted its stake in shares of PG&E by 7.5% during the 4th quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider’s stock worth $223,000 after acquiring an additional 772 shares in the last quarter. Optiver Holding B.V. boosted its stake in shares of PG&E by 23.9% during the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 825 shares in the last quarter. Clarius Group LLC boosted its stake in shares of PG&E by 8.2% during the 4th quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider’s stock worth $223,000 after acquiring an additional 833 shares in the last quarter. Greenleaf Trust boosted its stake in shares of PG&E by 5.9% during the 4th quarter. Greenleaf Trust now owns 15,542 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 872 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in shares of PG&E by 9.0% during the 4th quarter. Apollon Wealth Management LLC now owns 11,168 shares of the utilities provider’s stock worth $225,000 after acquiring an additional 923 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

PCG stock opened at $17.73 on Tuesday. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The stock’s fifty day simple moving average is $17.03 and its 200-day simple moving average is $17.89. 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 stock has a market capitalization of $47.44 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter last year, the business earned $0.37 EPS. PG&E’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is currently 9.17%.

Insider Buying and Selling

In other news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. This represents a 75.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the transaction, the executive vice president now directly owns 151,116 shares in the company, valued at $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

PCG has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Evercore ISI increased their target price on PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a report on Monday, April 28th. Mizuho increased their target price on PG&E from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday. Guggenheim increased their target price on PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Finally, BMO Capital Markets lowered their target price on PG&E from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and an average price target of $20.71.

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.