Lansforsakringar Fondforvaltning AB publ Takes Position in PG&E Co. (NYSE:PCG)

Lansforsakringar Fondforvaltning AB publ bought a new position in PG&E Co. (NYSE:PCG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 651,163 shares of the utilities provider's stock, valued at approximately $13,140,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of PG&E by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after buying an additional 6,151,233 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of PG&E by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock worth $1,046,462,000 after buying an additional 2,151,494 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of PG&E by 70.3% in the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after buying an additional 19,317,171 shares during the last quarter. Norges Bank purchased a new position in shares of PG&E in the 4th quarter worth approximately $591,625,000. Finally, Northern Trust Corp boosted its stake in shares of PG&E by 6.8% in the 4th quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider's stock worth $385,962,000 after buying an additional 1,214,394 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Insiders Place Their Bets

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PCG shares. UBS Group downgraded PG&E from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. BMO Capital Markets lowered their target price on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group upped their price target on shares of PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company reissued an "overweight" rating and issued a $24.00 target price on shares of PG&E in a research note on Friday, April 25th. Finally, Guggenheim increased their target price on PG&E from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

PG&E Trading Down 1.1%

Shares of PG&E stock traded down $0.19 during trading on Friday, reaching $16.88. 23,640,249 shares of the stock were exchanged, compared to its average volume of 16,508,497. 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's fifty day moving average is $17.06 and its 200 day moving average is $17.67. The firm has a market cap of $45.16 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last posted its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). The firm had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. As a group, equities research analysts expect that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 0.59%. PG&E's dividend payout ratio (DPR) is presently 9.17%.

About PG&E

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.