Thrivent Financial for Lutherans Has $87.08 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Thrivent Financial for Lutherans grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,181,598 shares of the utilities provider’s stock after purchasing an additional 104,244 shares during the period. Thrivent Financial for Lutherans owned about 0.24% of Public Service Enterprise Group worth $87,083,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. Family Firm Inc. bought a new stake 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 during the 2nd quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $36,000. Salomon & Ludwin LLC raised its holdings in shares of 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 purchasing an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $41,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 4.0 %

Shares of PEG stock opened at $86.76 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $86.83. The company’s fifty day simple moving average is $79.70 and its two-hundred day simple moving average is $73.61. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The stock has a market capitalization of $43.21 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 3.09 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 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 given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Insider Transactions 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 transaction of $1,535,133.02. Following the completion of 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 SEC, which is available at the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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 completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,068 shares of company stock valued at $2,406,965. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PEG shares. Guggenheim raised 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 research report on Monday, June 17th. Barclays increased their price target on 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. Bank of America boosted their price objective on 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. Scotiabank upped their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets lifted their target price on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.92.

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.