Rafferty Asset Management LLC Sells 1,474 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Rafferty Asset Management LLC trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,931 shares of the utilities provider’s stock after selling 1,474 shares during the quarter. Rafferty Asset Management LLC’s holdings in Public Service Enterprise Group were worth $4,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PEG. Norges Bank bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $445,005,000. Raymond James Financial Inc. bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $376,209,000. Jennison Associates LLC increased its stake in shares of Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after acquiring an additional 1,882,667 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Public Service Enterprise Group by 604.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after acquiring an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Public Service Enterprise Group by 234.1% in the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after acquiring an additional 1,483,662 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $79.33 on Monday. The firm’s 50-day moving average price is $80.87 and its 200-day moving average price is $84.08. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a market cap of $39.58 billion, a PE ratio of 19.49, a PEG ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52-week low of $71.89 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 EPS. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s payout ratio is presently 68.85%.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research reports. StockNews.com lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st. Bank of America reduced their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Barclays reduced their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Finally, Guggenheim reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Hold” and an average target price of $88.81.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

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.