Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by American International Group Inc.

American International Group Inc. lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,663 shares of the utilities provider’s stock after selling 1,390 shares during the period. American International Group Inc.’s holdings in Public Service Enterprise Group were worth $7,990,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rockline Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $1,185,000. Allspring Global Investments Holdings LLC grew its stake in shares of Public Service Enterprise Group by 4.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after purchasing an additional 17,838 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Public Service Enterprise Group by 79.9% in the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after purchasing an additional 397,606 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Public Service Enterprise Group by 16.6% in the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after purchasing an additional 53,577 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Public Service Enterprise Group by 5,613.8% in the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after purchasing an additional 169,425 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $73.29 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The stock has a market cap of $36.50 billion, a P/E ratio of 20.30, a P/E/G ratio of 3.04 and a beta of 0.59. The firm has a 50 day simple moving average of $71.55 and a 200 day simple moving average of $65.26. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $75.82.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. Public Service Enterprise Group’s revenue was down 26.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 2,948 shares of company stock worth $199,910 over the last ninety days. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Mizuho lifted their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Bank of America lifted their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada lifted their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.67.

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.