Xponance Inc. Cuts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Xponance Inc. lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 63,497 shares of the utilities provider’s stock after selling 726 shares during the period. Xponance Inc.’s holdings in Public Service Enterprise Group were worth $3,883,000 as of its most recent filing with the SEC.

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

Public Service Enterprise Group Stock Performance

PEG stock opened at $65.74 on Friday. The stock has a market capitalization of $32.78 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58. The stock’s 50 day simple moving average is $63.84 and its 200 day simple moving average is $61.96. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $67.51. 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 (NYSE:PEG) last issued its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. Public Service Enterprise Group’s revenue was down 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 EPS. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share 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, June 28th. Shareholders of record on Friday, June 7th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Analysts Set New Price Targets

Several equities research analysts have 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 for the company. in a research report on Monday, January 22nd. Bank of America increased their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. BMO Capital Markets dropped their price target 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 boosted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.58.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction 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 sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,948 shares of company stock worth $510,300. Insiders own 0.57% of the company’s stock.

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.