Amalgamated Bank Sells 9,098 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Amalgamated Bank lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,706 shares of the utilities provider’s stock after selling 9,098 shares during the quarter. Amalgamated Bank’s holdings in Public Service Enterprise Group were worth $8,869,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PEG. Bromfield Sneider Wealth Advisors bought a new stake in Public Service Enterprise Group during the 1st quarter valued at about $27,000. Tcwp LLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at about $28,000. Covestor Ltd bought a new stake in Public Service Enterprise Group during the 4th quarter valued at about $32,000. Capital Analysts LLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at about $35,000. Finally, MCF Advisors LLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at about $42,000. Institutional investors own 71.01% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $65.58, for a total transaction of $648,127.14. Following the sale, the chief executive officer now owns 441,613 shares of the company’s stock, valued at approximately $28,960,980.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Ralph A. Larossa sold 1,054 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $65.76, for a total value of $69,311.04. Following the completion of the transaction, the chief operating officer now directly owns 61,259 shares in the company, valued at approximately $4,028,391.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ralph Izzo sold 9,883 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $65.58, for a total transaction of $648,127.14. Following the completion of the sale, the chief executive officer now directly owns 441,613 shares of the company’s stock, valued at approximately $28,960,980.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,274 shares of company stock valued at $1,446,725. Insiders own 0.55% of the company’s stock.

Public Service Enterprise Group Stock Down 0.2 %

Shares of Public Service Enterprise Group stock opened at $66.36 on Friday. The firm’s 50 day moving average price is $65.06 and its 200-day moving average price is $66.65. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 1.23. Public Service Enterprise Group Incorporated has a 52-week low of $58.19 and a 52-week high of $75.61. The company has a market cap of $33.10 billion, a P/E ratio of -33.86, a PEG ratio of 6.15 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEGGet Rating) last released its earnings results on Tuesday, August 2nd. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.48 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, September 8th. Public Service Enterprise Group’s dividend payout ratio is presently -110.20%.

Analyst Ratings Changes

PEG has been the subject of a number of research analyst reports. TheStreet lowered shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a report on Monday, June 13th. Credit Suisse Group raised their target price on shares of Public Service Enterprise Group to $69.00 in a research report on Tuesday, August 9th. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 3rd. Barclays cut their target price on shares of Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.64.

Public Service Enterprise Group Company Profile

(Get Rating)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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