Bleakley Financial Group LLC Has $5.13 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bleakley Financial Group LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 60,757 shares of the utilities provider’s stock after selling 408 shares during the quarter. Bleakley Financial Group LLC’s holdings in Public Service Enterprise Group were worth $5,133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank increased its holdings in Public Service Enterprise Group by 6.9% in the third quarter. Czech National Bank now owns 101,480 shares of the utilities provider’s stock valued at $9,053,000 after purchasing an additional 6,567 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Public Service Enterprise Group by 24.2% in the 3rd quarter. GAMMA Investing LLC now owns 5,971 shares of the utilities provider’s stock valued at $533,000 after acquiring an additional 1,162 shares during the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Public Service Enterprise Group by 759.8% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 44,273 shares of the utilities provider’s stock valued at $3,950,000 after acquiring an additional 39,124 shares during the period. Brookstone Capital Management boosted its stake in Public Service Enterprise Group by 2.5% during the 3rd quarter. Brookstone Capital Management now owns 7,658 shares of the utilities provider’s stock worth $683,000 after acquiring an additional 190 shares during the last quarter. Finally, Objectivity Squared LLC acquired a new position in Public Service Enterprise Group during the third quarter valued at approximately $205,000. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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 sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,612 shares of company stock worth $836,549 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of several analyst reports. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group raised their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, Scotiabank lifted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $84.09 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a fifty day moving average price of $86.56 and a two-hundred day moving average price of $85.37. The stock has a market cap of $41.90 billion, a P/E ratio of 20.66, a P/E/G ratio of 2.67 and a beta of 0.64. Public Service Enterprise Group Incorporated has a one year low of $57.40 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) 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 the consensus estimate of $2.44 billion. During the same quarter last year, the firm posted $0.85 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 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.