Nomura Asset Management Co. Ltd. reduced its stake in shares of PG&E Co. (NYSE:PCG) by 44.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,076 shares of the utilities provider’s stock after selling 62,397 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in PG&E were worth $3,455,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of PCG. Focused Wealth Management Inc bought a new stake in PG&E during the fourth quarter worth approximately $108,000. Bronfman E.L. Rothschild L.P. increased its stake in PG&E by 122.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,463 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 1,354 shares during the last quarter. Ford Financial Group Inc. bought a new stake in PG&E during the fourth quarter worth approximately $110,000. M&R Capital Management Inc. increased its stake in PG&E by 443.3% during the fourth quarter. M&R Capital Management Inc. now owns 4,346 shares of the utilities provider’s stock worth $194,000 after acquiring an additional 3,546 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new stake in PG&E during the fourth quarter worth approximately $214,000. 81.19% of the stock is currently owned by institutional investors.
Shares of PG&E Co. (NYSE PCG) opened at $45.10 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $21,844.99, a P/E ratio of 11.56, a P/E/G ratio of 2.70 and a beta of 0.07. PG&E Co. has a twelve month low of $37.30 and a twelve month high of $71.57.
PCG has been the topic of several analyst reports. Wells Fargo & Co cut PG&E from an “outperform” rating to a “market perform” rating in a research note on Monday, December 18th. Goldman Sachs Group cut PG&E from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research note on Tuesday, January 2nd. Guggenheim cut PG&E from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $50.00 target price (down previously from $57.00) on shares of PG&E in a research note on Wednesday, February 21st. Finally, Zacks Investment Research raised PG&E from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.71.
In other PG&E news, COO Nickolas Stavropoulos sold 4,728 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $41.93, for a total transaction of $198,245.04. Following the completion of the sale, the chief operating officer now owns 82,830 shares in the company, valued at $3,473,061.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John R. Simon sold 3,211 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $41.93, for a total value of $134,637.23. The disclosure for this sale can be found here. Insiders sold 8,875 shares of company stock valued at $372,129 in the last quarter. 0.15% of the stock is owned by company insiders.
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PG&E Company Profile
PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.
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