Vanguard Personalized Indexing Management LLC Buys 5,945 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Vanguard Personalized Indexing Management LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,038 shares of the utilities provider’s stock after buying an additional 5,945 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Public Service Enterprise Group were worth $3,536,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PEG. Gilbert & Cook Inc. raised its holdings in shares of Public Service Enterprise Group by 5.4% in the fourth quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider’s stock valued at $448,000 after purchasing an additional 373 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Public Service Enterprise Group by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,500,036 shares of the utilities provider’s stock worth $91,726,000 after buying an additional 30,414 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Public Service Enterprise Group by 13.2% during the 4th quarter. Brown Advisory Inc. now owns 7,231 shares of the utilities provider’s stock worth $442,000 after buying an additional 843 shares in the last quarter. Norges Bank purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $215,074,000. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,286 shares of the utilities provider’s stock valued at $446,000 after acquiring an additional 239 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.0 %

Shares of Public Service Enterprise Group stock opened at $83.41 on Friday. The company’s 50-day moving average price is $79.49 and its 200-day moving average price is $73.38. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $85.31. The company has a market cap of $41.55 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 3.03 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its 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 analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Analysts Set New Price Targets

Several research firms have weighed in on PEG. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective on the stock. Bank of America increased their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada increased their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $77.92.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction dated Monday, September 9th. The stock was 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 owns 57,961 shares in the company, valued at approximately $4,610,217.94. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The shares were 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 approximately $4,610,217.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock worth $2,406,965 in the last ninety days. 0.57% of the stock is currently owned by insiders.

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.