Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 39.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,646 shares of the utilities provider’s stock after selling 118,651 shares during the quarter. AQR Capital Management LLC’s holdings in Public Service Enterprise Group were worth $13,561,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

PEG has been the subject of several research reports. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Barclays increased their target price on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Royal Bank of Canada boosted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Scotiabank increased their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, UBS Group boosted their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.46.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,068 shares of company stock worth $2,406,965. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Up 1.7 %

Shares of NYSE:PEG opened at $90.74 on Wednesday. The business has a 50-day moving average price of $81.61 and a 200 day moving average price of $74.86. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $91.04. 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 market capitalization of $45.20 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 3.20 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly 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). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $0.70 earnings per share. Sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were paid a $0.60 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.64%. Public Service Enterprise Group’s payout ratio is presently 66.48%.

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.