LSV Asset Management Sells 35,700 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

LSV Asset Management lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 22.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,800 shares of the utilities provider’s stock after selling 35,700 shares during the period. LSV Asset Management’s holdings in Public Service Enterprise Group were worth $7,632,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PEG shares. BMO Capital Markets reduced their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Royal Bank of Canada lifted their price target 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. Evercore ISI upped their price objective on 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, Barclays lifted their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. 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’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $67.15.

Public Service Enterprise Group Trading Up 0.8 %

NYSE:PEG opened at $72.55 on Thursday. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $72.93. The firm’s fifty day moving average is $66.00 and its 200-day moving average is $62.80. The firm has a market cap of $36.14 billion, a P/E ratio of 20.10, a P/E/G ratio of 3.08 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 (NYSE:PEG) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share 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 analyst estimates of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business’s revenue was down 26.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 earnings per share. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.31%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a document filed 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 stock in a transaction on 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 of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’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 transaction, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,322 shares of company stock valued at $607,376. Company insiders own 0.57% of the company’s stock.

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.