Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 41.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,249 shares of the utilities provider’s stock after selling 18,272 shares during the period. SG Americas Securities LLC’s holdings in Public Service Enterprise Group were worth $1,605,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after acquiring an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after purchasing an additional 726,613 shares during the period. State Street Corp grew its stake in Public Service Enterprise Group by 1.1% during the 2nd quarter. State Street Corp now owns 30,420,823 shares of the utilities provider’s stock worth $1,904,648,000 after buying an additional 324,392 shares during the last quarter. Geode Capital Management LLC increased its position in Public Service Enterprise Group by 2.2% during the first quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’s stock worth $638,876,000 after buying an additional 221,305 shares during the period. Finally, Legal & General Group Plc lifted its stake in Public Service Enterprise Group by 1.3% in the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock valued at $401,173,000 after buying an additional 87,974 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,574 shares of company stock worth $419,108. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Barclays upped their target price on shares of Public Service Enterprise Group from $65.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. raised their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. Finally, Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $66.38.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $66.78 on Friday. The firm has a market capitalization of $33.30 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 2.86 and a beta of 0.57. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The business’s 50 day simple moving average is $61.14 and its 200-day simple moving average is $61.16. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $67.02.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 8th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.