Vestcor Inc Has $4.40 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Vestcor Inc trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,118 shares of the utilities provider’s stock after selling 5,037 shares during the period. Vestcor Inc’s holdings in Public Service Enterprise Group were worth $4,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $35,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $39,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at $54,000. Finally, Financial Life Planners bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $56,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity

In related 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 stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Up 0.2 %

Public Service Enterprise Group stock opened at $79.74 on Friday. Public Service Enterprise Group Incorporated has a one year low of $63.31 and a one year high of $95.22. The stock has a market cap of $39.76 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 50-day moving average of $83.83 and a two-hundred day moving average of $85.94.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PEG shares. Bank of America lowered their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Guggenheim reaffirmed a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $88.00 to $84.00 in a report 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.83.

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.