American International Group Inc. Decreases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

American International Group Inc. decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,663 shares of the utilities provider’s stock after selling 1,390 shares during the period. American International Group Inc.’s holdings in Public Service Enterprise Group were worth $7,990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PEG. Operose Advisors LLC boosted its position in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after buying an additional 435 shares during the period. Addison Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $31,000. Bruce G. Allen Investments LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $36,000. Anchor Investment Management LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $37,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 39.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $520,814 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley boosted their price target on Public Service Enterprise Group from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Royal Bank of Canada boosted their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Barclays boosted their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $69.92.

Read Our Latest Report on PEG

Public Service Enterprise Group Stock Down 2.1 %

Shares of Public Service Enterprise Group stock opened at $72.88 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. The business’s 50 day simple moving average is $70.49 and its 200-day simple moving average is $64.75. The stock has a market capitalization of $36.30 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 3.03 and a beta of 0.59. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $75.82.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. Equities research 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Public Service Enterprise Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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