Vanguard Personalized Indexing Management LLC Acquires 5,945 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Vanguard Personalized Indexing Management LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,038 shares of the utilities provider’s stock after buying an additional 5,945 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Public Service Enterprise Group were worth $3,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $36,000. Salomon & Ludwin LLC boosted its position in Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after buying an additional 560 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $41,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG stock opened at $83.41 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The firm has a market cap of $41.55 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 3.03 and a beta of 0.60. The company’s fifty day simple moving average is $79.49 and its 200 day simple moving average is $73.38. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $85.31.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a dividend yield of 2.88%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock worth $2,406,965 in the last quarter. Company insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Morgan Stanley boosted their price target on Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Monday, June 17th. Finally, Bank of America lifted their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.92.

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.