Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,048,070 shares of the utilities provider’s stock after selling 35,178 shares during the period. California Public Employees Retirement System’s holdings in Public Service Enterprise Group were worth $186,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after acquiring an additional 7,103,657 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after acquiring an additional 726,613 shares during the period. Legal & General Group Plc lifted its position in shares of Public Service Enterprise Group by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock valued at $401,173,000 after acquiring an additional 87,974 shares during the period. Northern Trust Corp lifted its position in shares of Public Service Enterprise Group by 2.8% during the 3rd quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock valued at $350,395,000 after acquiring an additional 170,586 shares during the period. Finally, Morgan Stanley lifted its position in shares of Public Service Enterprise Group by 4.1% during the 3rd quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock valued at $319,407,000 after acquiring an additional 221,071 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.1 %

PEG traded up $0.07 during trading on Tuesday, hitting $66.78. The company’s stock had a trading volume of 257,798 shares, compared to its average volume of 2,812,114. The firm’s 50 day moving average price is $63.98 and its 200-day moving average price is $62.08. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a market cap of $33.30 billion, a PE ratio of 13.00, a PEG ratio of 2.88 and a beta of 0.58. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business’s revenue for the quarter was down 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. Public Service Enterprise Group’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. BMO Capital Markets reduced their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Barclays upped their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Finally, Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.15.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The disclosure for this sale can be found here. Insiders sold a total of 7,748 shares of company stock worth $498,658 in the last ninety days. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Company 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.