Insider Selling: Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Sells 1,378 Shares of Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Public Service Enterprise Group Stock Up 1.4 %

NYSE PEG traded up $1.15 on Friday, reaching $86.25. The stock had a trading volume of 1,684,951 shares, compared to its average volume of 1,772,926. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The business has a 50 day moving average price of $87.87 and a 200 day moving average price of $83.41. The company has a market capitalization of $42.97 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 3.18 and a beta of 0.65.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors have recently bought and sold shares of the stock. Centre Asset Management LLC boosted its stake in shares of Public Service Enterprise Group by 7.4% during the 4th quarter. Centre Asset Management LLC now owns 3,812 shares of the utilities provider’s stock worth $322,000 after acquiring an additional 264 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Public Service Enterprise Group by 14.8% in the 4th quarter. GAMMA Investing LLC now owns 6,852 shares of the utilities provider’s stock worth $579,000 after purchasing an additional 881 shares during the last quarter. Principal Financial Group Inc. boosted its position in Public Service Enterprise Group by 3.1% during the third quarter. Principal Financial Group Inc. now owns 602,574 shares of the utilities provider’s stock worth $53,756,000 after purchasing an additional 18,344 shares during the period. SPX Gestao de Recursos Ltda acquired a new position in Public Service Enterprise Group during the third quarter valued at approximately $10,137,000. Finally, Inspire Trust Co. N.A. raised its position in shares of Public Service Enterprise Group by 11.8% in the third quarter. Inspire Trust Co. N.A. now owns 14,000 shares of the utilities provider’s stock valued at $1,249,000 after purchasing an additional 1,476 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PEG shares. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. UBS Group boosted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank raised their price objective on shares of 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. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, Evercore ISI lifted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.17.

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.