State of New Jersey Common Pension Fund D Sells 88,361 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

State of New Jersey Common Pension Fund D reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 174,689 shares of the utilities provider’s stock after selling 88,361 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Public Service Enterprise Group were worth $12,875,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PEG. TD Asset Management Inc boosted its position in shares of Public Service Enterprise Group by 16.6% during the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after acquiring an additional 53,577 shares in the last quarter. QRG Capital Management Inc. lifted its stake in Public Service Enterprise Group by 28.0% during the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after purchasing an additional 15,505 shares during the period. CWM LLC lifted its stake in Public Service Enterprise Group by 72.3% during the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after purchasing an additional 8,723 shares during the period. Czech National Bank boosted its holdings in Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Public Service Enterprise Group by 145.5% in the 1st quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock worth $4,303,000 after buying an additional 38,188 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $12,014,095.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the 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 transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock worth $2,406,965 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 1.0 %

NYSE:PEG opened at $84.16 on Friday. The stock’s fifty day moving average price is $78.81 and its two-hundred day moving average price is $72.77. The company has a market cap of $41.93 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.99 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $84.18. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 EPS. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Analyst Ratings Changes

PEG has been the topic of several recent analyst reports. Scotiabank boosted their price target 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. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research note on Friday. They issued a “hold” rating and a $85.00 target price on the stock. Royal Bank of Canada lifted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Bank of America upped their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Barclays raised their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.92.

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.