UBS Group AG Lowers Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

UBS Group AG trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,311,341 shares of the utilities provider’s stock after selling 73,229 shares during the quarter. UBS Group AG owned 0.26% of Public Service Enterprise Group worth $80,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Operose Advisors LLC boosted its holdings in Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the last quarter. Addison Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $31,000. Bruce G. Allen Investments LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $36,000. Anchor Investment Management LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $37,000. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 39.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PEG shares. Royal Bank of Canada upped their price objective on 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. Barclays increased their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Scotiabank lowered their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $74.33 on Thursday. The business’s fifty day moving average is $68.25 and its 200 day moving average is $63.77. The firm has a market cap of $37.02 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.83 and a beta of 0.56. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $75.17.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share 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 quarter in the prior year, the company earned $1.39 earnings per share. The company’s quarterly revenue was down 26.5% on a year-over-year basis. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company 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. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.23%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, 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 Securities & Exchange Commission, which is available at this link. In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred 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 sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,322 shares of company stock valued at $607,376. 0.57% of the stock is currently owned by company insiders.

About Public Service Enterprise Group

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.