Massachusetts Financial Services Co. MA Lowers Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Massachusetts Financial Services Co. MA cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,672,041 shares of the utilities provider’s stock after selling 39,722 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.74% of Public Service Enterprise Group worth $327,583,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PEG. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $35,000. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Finally, Country Trust Bank acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $52,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America increased their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Barclays reduced their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Evercore ISI increased their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the business’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 approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $92.35 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.41. The stock has a market capitalization of $46.01 billion, a PE ratio of 22.69, a PEG ratio of 3.31 and a beta of 0.61. 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 simple moving average of $88.21 and a 200-day simple moving average of $80.46.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

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.