Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 496,392 shares of the utilities provider’s stock after selling 15,902 shares during the period. Great Lakes Advisors LLC’s holdings in Public Service Enterprise Group were worth $41,940,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $54,000. Finally, Financial Life Planners acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth $56,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on 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 represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.83.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $78.58 on Wednesday. The company has a 50-day simple moving average of $84.04 and a 200-day simple moving average of $86.03. Public Service Enterprise Group Incorporated has a one year low of $63.31 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market capitalization of $39.17 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.21%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

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.