Texas Permanent School Fund Corp Lowers Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Texas Permanent School Fund Corp reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,128 shares of the utilities provider’s stock after selling 1,500 shares during the period. Texas Permanent School Fund Corp’s holdings in Public Service Enterprise Group were worth $5,869,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. UBS Group AG boosted its holdings in shares of Public Service Enterprise Group by 16.1% in the third quarter. UBS Group AG now owns 1,384,570 shares of the utilities provider’s stock worth $78,796,000 after acquiring an additional 192,165 shares during the period. Aptus Capital Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 17.7% in the third quarter. Aptus Capital Advisors LLC now owns 5,393 shares of the utilities provider’s stock worth $307,000 after acquiring an additional 812 shares during the period. Wade G W & Inc. bought a new position in shares of Public Service Enterprise Group in the third quarter worth $298,000. Huntington National Bank boosted its stake in Public Service Enterprise Group by 10.6% during the third quarter. Huntington National Bank now owns 13,382 shares of the utilities provider’s stock valued at $762,000 after buying an additional 1,283 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Public Service Enterprise Group during the third quarter valued at $44,000. 72.28% of the stock is owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $63.01, for a total transaction of $86,575.74. Following the transaction, the chief executive officer now owns 110,702 shares in the company, valued at approximately $6,975,333.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,974 shares of company stock worth $123,226. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PEG shares. Barclays lifted their price objective on Public Service Enterprise Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research report on Monday, January 22nd. StockNews.com downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. BMO Capital Markets raised their price target on Public Service Enterprise Group from $59.00 to $63.00 and gave the company a “market perform” rating in a research report on Wednesday, November 1st. Finally, Morgan Stanley raised their price target on Public Service Enterprise Group from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.95.

Get Our Latest Analysis on PEG

Public Service Enterprise Group Stock Up 0.4 %

PEG opened at $58.42 on Monday. The company has a market cap of $29.11 billion, a P/E ratio of 10.41, a P/E/G ratio of 3.22 and a beta of 0.57. The business’s 50-day moving average price is $60.42 and its 200-day moving average price is $60.77. The company has a current ratio of 0.63, a quick ratio of 0.45 and a debt-to-equity ratio of 1.12. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $65.46.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were issued a $0.57 dividend. The ex-dividend date was Thursday, December 7th. This represents a $2.28 annualized dividend and a dividend yield of 3.90%. Public Service Enterprise Group’s dividend payout ratio is currently 40.64%.

Public Service Enterprise Group Company Profile

(Free Report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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