Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by First PREMIER Bank

First PREMIER Bank reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,247 shares of the utilities provider’s stock after selling 1,806 shares during the period. Public Service Enterprise Group makes up approximately 1.2% of First PREMIER Bank’s investment portfolio, making the stock its 24th biggest holding. First PREMIER Bank’s holdings in Public Service Enterprise Group were worth $4,836,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC raised its position in Public Service Enterprise Group by 8.5% during the 2nd quarter. Intech Investment Management LLC now owns 18,502 shares of the utilities provider’s stock worth $1,364,000 after buying an additional 1,449 shares during the last quarter. Sei Investments Co. increased its stake in shares of Public Service Enterprise Group by 26.9% in the second quarter. Sei Investments Co. now owns 308,490 shares of the utilities provider’s stock worth $22,736,000 after acquiring an additional 65,338 shares during the period. Ensign Peak Advisors Inc raised its holdings in shares of Public Service Enterprise Group by 2.0% during the second quarter. Ensign Peak Advisors Inc now owns 128,659 shares of the utilities provider’s stock worth $9,482,000 after purchasing an additional 2,510 shares during the last quarter. ProShare Advisors LLC lifted its position in Public Service Enterprise Group by 1.2% during the second quarter. ProShare Advisors LLC now owns 72,314 shares of the utilities provider’s stock valued at $5,330,000 after purchasing an additional 848 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its holdings in Public Service Enterprise Group by 20,841.9% in the second quarter. Frank Rimerman Advisors LLC now owns 6,492 shares of the utilities provider’s stock valued at $478,000 after purchasing an additional 6,461 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEG has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Barclays decreased their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. UBS Group raised their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank lifted their target price 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. Finally, Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Public Service Enterprise Group Stock Down 2.4 %

PEG stock opened at $88.22 on Thursday. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22. 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 firm has a 50-day simple moving average of $87.78 and a 200-day simple moving average of $84.72. The stock has a market capitalization of $43.96 billion, a P/E ratio of 21.68, a P/E/G ratio of 2.89 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.72%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock valued at $722,037 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

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.