Swiss National Bank Sells 44,200 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Swiss National Bank cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,560,700 shares of the utilities provider’s stock after selling 44,200 shares during the period. Swiss National Bank owned 0.31% of Public Service Enterprise Group worth $95,437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEG. Vanguard Group Inc. lifted its stake in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after purchasing an additional 7,103,657 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after buying an additional 726,613 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock valued at $401,173,000 after acquiring an additional 87,974 shares in the last quarter. Northern Trust Corp lifted its position in shares of Public Service Enterprise Group by 2.8% during the 3rd quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock valued at $350,395,000 after acquiring an additional 170,586 shares during the period. Finally, Morgan Stanley boosted its stake in Public Service Enterprise Group by 4.1% during the third quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock worth $319,407,000 after acquiring an additional 221,071 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on 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 $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,322 shares of company stock worth $607,376. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 0.6 %

Shares of Public Service Enterprise Group stock opened at $70.45 on Friday. The stock has a market capitalization of $35.09 billion, a P/E ratio of 19.52, a P/E/G ratio of 3.08 and a beta of 0.56. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $70.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.46 and a current ratio of 0.79. The stock’s 50-day simple moving average is $65.56 and its 200 day simple moving average is $62.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PEG shares. Guggenheim cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research report on Monday, January 22nd. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Evercore ISI boosted their price target on shares of 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. Finally, Royal Bank of Canada raised their price objective on shares of 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 analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.15.

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.