Massmutual Trust Co. FSB ADV Has $699,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Massmutual Trust Co. FSB ADV increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 754.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,836 shares of the utilities provider’s stock after purchasing an additional 6,919 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Public Service Enterprise Group were worth $699,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the 1st quarter worth about $36,000. Salomon & Ludwin LLC raised its stake in shares of Public Service Enterprise Group by 1,866.7% in the 1st 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 period. Finally, Scarborough Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $41,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PEG shares. Bank of America increased their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Barclays lifted their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.46.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction 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 directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction dated 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,446 shares of company stock valued at $2,531,260 over the last 90 days. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.5 %

PEG stock opened at $92.02 on Friday. Public Service Enterprise Group Incorporated has a one year low of $55.07 and a one year high of $92.20. The stock has a market cap of $45.83 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.22 and a beta of 0.61. The company has a fifty day moving average price of $82.58 and a two-hundred day moving average price of $75.28. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

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 for the quarter, missing the consensus estimate 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 firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 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.