Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Reduced by AIA Group Ltd

AIA Group Ltd lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,267 shares of the utilities provider’s stock after selling 1,764 shares during the quarter. AIA Group Ltd’s holdings in Public Service Enterprise Group were worth $628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rockline Wealth Management LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $1,185,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Public Service Enterprise Group by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after acquiring an additional 17,838 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Public Service Enterprise Group by 5,613.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after acquiring an additional 169,425 shares in the last quarter. PATRIZIA Pty Ltd bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $5,158,000. Finally, Arvest Investments Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $2,108,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available at this link. In other news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,948 shares of company stock valued at $510,300. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 1.0 %

Public Service Enterprise Group stock opened at $65.74 on Friday. The business has a 50 day moving average price of $63.84 and a two-hundred day moving average price of $61.92. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The stock has a market cap of $32.78 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.65%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PEG shares. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Bank of America upped their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays upped their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Tuesday, February 27th. Finally, Evercore ISI increased their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.58.

Public Service Enterprise Group 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.