Amalgamated Bank Cuts Stock Holdings in PG&E Co. (NYSE:PCG)

Amalgamated Bank trimmed its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 526,795 shares of the utilities provider's stock after selling 84,605 shares during the quarter. Amalgamated Bank's holdings in PG&E were worth $9,498,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Planned Solutions Inc. bought a new position in shares of PG&E during the 4th quarter worth approximately $37,000. CVA Family Office LLC bought a new position in shares of PG&E during the 4th quarter worth approximately $43,000. Millburn Ridgefield Corp bought a new position in shares of PG&E during the 3rd quarter worth approximately $44,000. Catalyst Capital Advisors LLC bought a new position in shares of PG&E during the 3rd quarter worth approximately $44,000. Finally, Headlands Technologies LLC bought a new position in shares of PG&E during the 3rd quarter worth approximately $47,000. 78.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PCG. StockNews.com raised PG&E from a "sell" rating to a "hold" rating in a report on Thursday, February 1st. Barclays increased their price objective on PG&E from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Friday, April 26th. The Goldman Sachs Group began coverage on PG&E in a report on Wednesday, April 10th. They issued a "buy" rating and a $21.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on PG&E from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.11.

Insider Activity

In related news, CEO Patricia K. Poppe sold 59,000 shares of the firm's stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company's stock, valued at $25,889,471.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

PG&E Stock Performance

PG&E stock traded up $0.04 during trading hours on Friday, hitting $17.57. The company had a trading volume of 12,813,177 shares, compared to its average volume of 11,748,601. The firm has a 50-day moving average of $16.65 and a 200 day moving average of $16.94. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93. The firm has a market cap of $37.55 billion, a PE ratio of 15.69 and a beta of 1.26. PG&E Co. has a one year low of $14.71 and a one year high of $18.32.

PG&E (NYSE:PCG - Get Free Report) last posted its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, sell-side analysts expect that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 27th. PG&E's dividend payout ratio is currently 3.57%.

PG&E Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.