Cresset Asset Management LLC Sells 56,966 Shares of PG&E Co. (NYSE:PCG)

Cresset Asset Management LLC reduced its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 80.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,981 shares of the utilities provider's stock after selling 56,966 shares during the quarter. Cresset Asset Management LLC's holdings in PG&E were worth $282,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PCG. New York State Teachers Retirement System raised its stake in shares of PG&E by 8.2% during the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider's stock worth $39,837,000 after purchasing an additional 148,860 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in PG&E in the fourth quarter valued at about $514,000. Atria Wealth Solutions Inc. acquired a new stake in PG&E in the fourth quarter valued at about $466,000. Merit Financial Group LLC bought a new position in PG&E in the fourth quarter valued at about $336,000. Finally, Mediolanum International Funds Ltd raised its position in PG&E by 327.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 167,580 shares of the utilities provider's stock valued at $3,365,000 after purchasing an additional 128,396 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PCG shares. Morgan Stanley reissued an "underweight" rating on shares of PG&E in a research note on Wednesday, April 23rd. Barclays cut their target price on PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets decreased their price objective on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. UBS Group cut PG&E from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Finally, Jefferies Financial Group lifted their price target on shares of PG&E from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.71.

PG&E Trading Up 0.1%

Shares of NYSE:PCG traded up $0.01 during trading on Tuesday, reaching $17.75. The stock had a trading volume of 10,312,987 shares, compared to its average volume of 16,447,742. The business has a fifty day moving average price of $17.06 and a 200-day moving average price of $17.89. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The stock has a market cap of $47.49 billion, a P/E ratio of 15.43, a PEG ratio of 1.09 and a beta of 0.63. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG - Get Free Report) last issued its earnings results on Thursday, April 24th. The utilities provider reported $0.33 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 firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the business posted $0.37 EPS. PG&E's revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.56%. PG&E's dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling at PG&E

In related news, EVP Carla J. Peterman sold 32,519 shares of PG&E stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares of the company's stock, valued at $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arno Lockheart Harris purchased 6,389 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares of the company's stock, valued at approximately $232,770.24. This represents a 75.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.14% of the company's stock.

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.