Zurcher Kantonalbank Zurich Cantonalbank Buys 10,813 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,891 shares of the utilities provider’s stock after acquiring an additional 10,813 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Public Service Enterprise Group were worth $9,838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Public Service Enterprise Group by 259.8% during the 4th 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 bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $141,476,000. Prudential Financial Inc. increased its holdings in 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 worth $132,451,000 after purchasing an additional 1,253,283 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Public Service Enterprise Group during the first quarter worth about $74,050,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 1.0 %

PEG stock opened at $65.74 on Friday. The company’s 50 day moving average is $63.84 and its 200 day moving average is $61.92. 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. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion for 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 firm’s revenue was down 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, 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 90 days, insiders sold 7,948 shares of company stock valued at $510,300. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Guggenheim cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a report on Monday, January 22nd. Wells Fargo & Company raised their target price on 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. Barclays raised their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Finally, Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average 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.