UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,454,357 shares of the utilities provider’s stock after selling 157,178 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.69% of Public Service Enterprise Group worth $308,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tidal Investments LLC raised its stake in Public Service Enterprise Group by 14.5% during the first quarter. Tidal Investments LLC now owns 22,598 shares of the utilities provider’s stock valued at $1,509,000 after buying an additional 2,866 shares during the last quarter. Atria Investments Inc increased its holdings in shares of Public Service Enterprise Group by 0.7% during the first quarter. Atria Investments Inc now owns 38,320 shares of the utilities provider’s stock valued at $2,559,000 after acquiring an additional 253 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Public Service Enterprise Group by 155.6% in the 1st quarter. Cetera Investment Advisers now owns 120,880 shares of the utilities provider’s stock worth $8,072,000 after purchasing an additional 73,585 shares during the last quarter. Cetera Advisors LLC boosted its stake in Public Service Enterprise Group by 66.0% in the 1st quarter. Cetera Advisors LLC now owns 23,614 shares of the utilities provider’s stock worth $1,577,000 after purchasing an additional 9,388 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Public Service Enterprise Group by 4.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,989 shares of the utilities provider’s stock valued at $7,639,000 after purchasing an additional 4,505 shares during the last quarter. 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 Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,739 shares of company stock worth $2,467,753 in the last three months. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 0.1 %

Shares of PEG stock opened at $94.31 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The firm has a fifty day moving average price of $89.31 and a 200-day moving average price of $81.33. The company has a market cap of $46.99 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

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

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.54%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PEG shares. UBS Group upped their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Scotiabank boosted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, Evercore ISI boosted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.69.

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.