Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lifted by Truist Financial Corp

Truist Financial Corp lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 168,545 shares of the utilities provider’s stock after acquiring an additional 1,740 shares during the quarter. Truist Financial Corp’s holdings in Public Service Enterprise Group were worth $12,422,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. KBC Group NV grew its holdings in shares of Public Service Enterprise Group by 13.7% during the fourth quarter. KBC Group NV now owns 37,433 shares of the utilities provider’s stock valued at $2,289,000 after buying an additional 4,501 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Public Service Enterprise Group by 161.8% during the fourth quarter. Jones Financial Companies Lllp now owns 987 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 610 shares during the period. Rafferty Asset Management LLC grew its position in Public Service Enterprise Group by 9.3% during the fourth quarter. Rafferty Asset Management LLC now owns 55,599 shares of the utilities provider’s stock valued at $3,400,000 after purchasing an additional 4,728 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Public Service Enterprise Group by 6.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 42,476 shares of the utilities provider’s stock valued at $2,597,000 after buying an additional 2,567 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $231,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG opened at $92.02 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $55.07 and a 12-month high of $92.20. The firm has a market capitalization of $45.83 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 3.22 and a beta of 0.61. The stock’s 50 day moving average price is $82.58 and its two-hundred day moving average price is $75.28. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

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 company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $0.70 EPS. The company’s revenue was up .1% compared to the same quarter last year. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.61%. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Bank of America lifted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Royal Bank of Canada increased their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, UBS Group boosted their target price on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. One investment 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 stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.46.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares in the company, 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 sold a total of 31,446 shares of company stock valued at $2,531,260 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

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.