Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,646 shares of the utilities provider’s stock after selling 15,025 shares during the period. American Century Companies Inc.’s holdings in Public Service Enterprise Group were worth $13,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the 4th quarter valued at $39,000. Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $56,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PEG shares. Morgan Stanley raised their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, Bank of America decreased their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

Public Service Enterprise Group Trading Up 1.2 %

NYSE:PEG opened at $83.26 on Wednesday. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock has a market cap of $41.51 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The business’s 50-day simple moving average is $82.77 and its 200 day simple moving average is $86.11.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

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.