Intact Investment Management Inc. Invests $202,000 in PG&E Co. (PCG)

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Intact Investment Management Inc. bought a new stake in shares of PG&E Co. (NYSE:PCG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,400 shares of the utilities provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC lifted its holdings in shares of PG&E by 35,614.3% during the third quarter. FNY Investment Advisers LLC now owns 2,500 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 2,493 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of PG&E by 103.7% during the third quarter. Assenagon Asset Management S.A. now owns 29,181 shares of the utilities provider’s stock valued at $1,343,000 after purchasing an additional 14,858 shares during the last quarter. Levin Capital Strategies L.P. lifted its holdings in shares of PG&E by 2.1% during the third quarter. Levin Capital Strategies L.P. now owns 3,320,563 shares of the utilities provider’s stock valued at $152,779,000 after purchasing an additional 69,141 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of PG&E during the third quarter valued at $506,000. Finally, Aspiriant LLC purchased a new stake in shares of PG&E during the third quarter valued at $257,000. 81.39% of the stock is owned by institutional investors and hedge funds.

Shares of PG&E stock opened at $46.81 on Thursday. The stock has a market capitalization of $24.27 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 3.53 and a beta of -0.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.65 and a quick ratio of 0.60. PG&E Co. has a 1 year low of $37.30 and a 1 year high of $58.38.

In related news, COO Nickolas Stavropoulos sold 1,161 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $44.79, for a total value of $52,001.19. Following the completion of the sale, the chief operating officer now directly owns 78,223 shares of the company’s stock, valued at approximately $3,503,608.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

PCG has been the subject of several research analyst reports. Citigroup reissued a “hold” rating and issued a $45.00 price objective (down from $46.00) on shares of PG&E in a research note on Friday, July 6th. Bank of America increased their price objective on PG&E from $43.00 to $50.00 and gave the stock a “neutral” rating in a research note on Monday, July 9th. Barclays initiated coverage on PG&E in a research note on Tuesday, July 10th. They issued an “equal weight” rating and a $53.00 price objective for the company. Morgan Stanley increased their price objective on PG&E from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Finally, Wells Fargo & Co increased their price objective on PG&E from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $51.51.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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