Los Angeles Capital Management LLC Cuts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Los Angeles Capital Management LLC lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 46.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 443,499 shares of the utilities provider’s stock after selling 388,517 shares during the period. Los Angeles Capital Management LLC owned about 0.09% of Public Service Enterprise Group worth $37,471,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Amalgamated Bank raised its stake in shares of Public Service Enterprise Group by 1.2% in the 4th quarter. Amalgamated Bank now owns 102,144 shares of the utilities provider’s stock valued at $8,630,000 after acquiring an additional 1,203 shares during the period. FourThought Financial Partners LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $377,000. IFP Advisors Inc grew its holdings in Public Service Enterprise Group by 14.3% during the 4th quarter. IFP Advisors Inc now owns 17,341 shares of the utilities provider’s stock valued at $1,465,000 after purchasing an additional 2,171 shares in the last quarter. RWC Asset Management LLP grew its holdings in Public Service Enterprise Group by 230.0% during the 4th quarter. RWC Asset Management LLP now owns 219,967 shares of the utilities provider’s stock valued at $18,585,000 after purchasing an additional 153,318 shares in the last quarter. Finally, Colonial River Investments LLC grew its holdings in Public Service Enterprise Group by 5.4% during the 4th quarter. Colonial River Investments LLC now owns 7,497 shares of the utilities provider’s stock valued at $633,000 after purchasing an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PEG shares. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group raised their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $88.83.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $83.23 on Wednesday. Public Service Enterprise Group Incorporated has a 1-year low of $59.29 and a 1-year high of $95.22. The firm has a fifty day moving average of $84.91 and a two-hundred day moving average of $86.05. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market cap of $41.47 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $0.54 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. Public Service Enterprise Group’s payout ratio is 61.92%.

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.