LSV Asset Management Lowers Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

LSV Asset Management lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 22.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 124,800 shares of the utilities provider’s stock after selling 35,700 shares during the quarter. LSV Asset Management’s holdings in Public Service Enterprise Group were worth $7,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of Public Service Enterprise Group by 2.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 158,563 shares of the utilities provider’s stock worth $9,024,000 after acquiring an additional 4,496 shares during the last quarter. Stratos Wealth Partners LTD. boosted its stake in Public Service Enterprise Group by 17.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,249 shares of the utilities provider’s stock worth $299,000 after purchasing an additional 771 shares in the last quarter. Lindbrook Capital LLC grew its position in Public Service Enterprise Group by 40.0% during the 3rd quarter. Lindbrook Capital LLC now owns 1,067 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 305 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Public Service Enterprise Group by 29.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 150,078 shares of the utilities provider’s stock valued at $8,541,000 after purchasing an additional 33,815 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Public Service Enterprise Group by 166.0% in the third quarter. Mackenzie Financial Corp now owns 158,437 shares of the utilities provider’s stock worth $8,798,000 after buying an additional 98,864 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $72.55 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $36.14 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. The firm’s 50 day moving average price is $66.00 and its 200-day moving average price is $62.80. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $72.93.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.31%. Public Service Enterprise Group’s payout ratio is presently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group 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 sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated 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 owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated 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 sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold a total of 9,322 shares of company stock valued at $607,376 over the last ninety days. 0.57% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Scotiabank cut their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Barclays increased their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Royal Bank of Canada upped their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price objective (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, Bank of America boosted their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $67.15.

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.