Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 68,480 shares of the utilities provider’s stock after selling 1,327 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Public Service Enterprise Group were worth $5,047,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PEG. Raymond James & Associates grew its position in shares of Public Service Enterprise Group by 315.2% in the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after purchasing an additional 1,674,827 shares during the period. Hsbc Holdings PLC boosted its stake in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after buying an additional 732,443 shares during the last quarter. Reaves W H & Co. Inc. grew its holdings in Public Service Enterprise Group by 73.9% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after buying an additional 667,773 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after acquiring an additional 634,587 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its holdings in shares of Public Service Enterprise Group by 23.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after acquiring an additional 455,693 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

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

Public Service Enterprise Group Price Performance

PEG opened at $86.76 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $86.83. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 3.09 and a beta of 0.60. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company has a fifty day simple moving average of $79.70 and a 200 day simple moving average of $73.67.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results 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 return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Analyst Ratings Changes

PEG has been the subject of several research analyst reports. Barclays upped their price target on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the company 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 target on the stock in a report on Monday, June 17th. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Bank of America lifted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.92.

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.