Banque Cantonale Vaudoise trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 44.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,251 shares of the utilities provider’s stock after selling 10,419 shares during the period. Banque Cantonale Vaudoise’s holdings in Public Service Enterprise Group were worth $754,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of PEG. JPMorgan Chase & Co. raised its position in shares of Public Service Enterprise Group by 38.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,294,384 shares of the utilities provider’s stock worth $2,021,951,000 after acquiring an additional 9,017,393 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Public Service Enterprise Group by 259.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,504,200 shares of the utilities provider’s stock worth $275,973,000 after purchasing an additional 3,252,500 shares in the last quarter. Norges Bank purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $141,476,000. Prudential Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 196.2% during the 1st quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock valued at $132,451,000 after buying an additional 1,253,283 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $74,050,000. Institutional investors own 72.28% of the company’s stock.
Wall Street Analyst Weigh In
PEG has been the subject of a number of analyst reports. Barclays raised their target price on shares of Public Service Enterprise Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. TheStreet downgraded Public Service Enterprise Group from a “b-” rating to a “c+” rating in a report on Wednesday, January 24th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 21st. JPMorgan Chase & Co. raised their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. Finally, BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $59.00 to $63.00 and gave the company a “market perform” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.95.
Insider Buying and Selling
In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $63.01, for a total value of $86,575.74. Following the completion of the sale, the chief executive officer now owns 110,702 shares in the company, valued at $6,975,333.02. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 1,974 shares of company stock valued at $123,226. 0.57% of the stock is owned by company insiders.
Public Service Enterprise Group Stock Performance
Shares of PEG opened at $58.98 on Wednesday. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $65.46. The business has a fifty day moving average of $60.69 and a 200 day moving average of $60.90. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.63 and a quick ratio of 0.45. The firm has a market capitalization of $29.39 billion, a P/E ratio of 10.51, a PEG ratio of 3.21 and a beta of 0.57.
Public Service Enterprise Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.28 annualized dividend and a yield of 3.87%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 40.64%.
Public Service Enterprise Group Profile
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through 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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