UMB Bank n.a. Has $747,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

UMB Bank n.a. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,842 shares of the utilities provider’s stock after buying an additional 682 shares during the quarter. UMB Bank n.a.’s holdings in Public Service Enterprise Group were worth $747,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Old Port Advisors lifted its position in Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after purchasing an additional 113 shares during the period. Smallwood Wealth Investment Management LLC raised its position in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after buying an additional 115 shares in the last quarter. First Commonwealth Financial Corp PA lifted its holdings in shares of Public Service Enterprise Group by 1.3% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after acquiring an additional 123 shares during the period. Cigna Investments Inc. New boosted its position in shares of Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 124 shares in the last quarter. Finally, Great Lakes Retirement Inc. increased its stake in Public Service Enterprise Group by 0.4% in the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock valued at $2,619,000 after acquiring an additional 127 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $12,245,040.92. This trade represents 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 this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,234 shares of company stock valued at $722,037 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PEG. UBS Group upped their target price on 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. Evercore ISI raised their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Scotiabank boosted their target price on 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 lifted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Four 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, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $89.17.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $90.47 on Wednesday. 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 company has a market capitalization of $45.07 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.94 and a beta of 0.65. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The company’s 50-day moving average is $87.70 and its 200 day moving average is $84.61.

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

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given 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 2.65%. Public Service Enterprise Group’s payout ratio is presently 58.97%.

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.