Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,440 shares of the utilities provider’s stock after selling 756 shares during the period. Court Place Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,980,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PEG. Foundations Investment Advisors LLC raised its stake in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares in the last quarter. Parsons Capital Management Inc. RI acquired a new position in Public Service Enterprise Group during the 4th quarter valued at about $2,565,000. United Asset Strategies Inc. raised its position in shares of Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after buying an additional 127 shares in the last quarter. KBC Group NV lifted its stake in shares of Public Service Enterprise Group by 21.6% in the 4th quarter. KBC Group NV now owns 124,966 shares of the utilities provider’s stock worth $10,558,000 after acquiring an additional 22,231 shares during the period. Finally, Apexium Financial LP boosted its holdings in shares of Public Service Enterprise Group by 2.9% in the fourth quarter. Apexium Financial LP now owns 71,977 shares of the utilities provider’s stock valued at $6,083,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 6.9 %

Public Service Enterprise Group stock opened at $81.99 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $57.24 and a 52 week high of $95.22. 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 firm has a market capitalization of $40.85 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.82 and a beta of 0.65. The company has a 50 day moving average price of $87.80 and a 200 day moving average price of $84.99.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping 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%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.93%. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research report on Monday. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock valued at $722,037 over the last three months. 0.57% of the stock is owned by corporate 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.