Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,305 shares of the utilities provider’s stock after selling 340 shares during the period. Summit Trail Advisors LLC’s holdings in Public Service Enterprise Group were worth $324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Public Service Enterprise Group by 13.0% during the third 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 in the last quarter. Hsbc Holdings PLC increased its holdings in Public Service Enterprise Group by 118.1% during the 3rd quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock worth $77,544,000 after purchasing an additional 738,684 shares during the last quarter. Assetmark Inc. raised its position in shares of Public Service Enterprise Group by 562.8% in the 3rd quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock valued at $49,504,000 after purchasing an additional 738,619 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 buying an additional 726,613 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in shares of Public Service Enterprise Group by 1,350.4% during the third quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock worth $30,353,000 after buying an additional 496,581 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

PEG stock opened at $71.98 on Wednesday. The company has a market capitalization of $35.85 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 3.08 and a beta of 0.56. The firm has a 50 day moving average of $66.00 and a two-hundred day moving average of $62.80. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $72.21.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 66.48%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PEG shares. BMO Capital Markets reduced their price objective on shares of 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. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Scotiabank cut their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Bank of America lifted their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company raised their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,322 shares of company stock worth $607,376. 0.57% of the stock is currently owned by 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.