Elo Mutual Pension Insurance Co Has $3.35 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Elo Mutual Pension Insurance Co lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,437 shares of the utilities provider’s stock after selling 216 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Public Service Enterprise Group were worth $3,349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Norges Bank acquired a new stake in Public Service Enterprise Group during the 4th quarter worth $215,074,000. Raymond James & Associates grew its holdings in Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after acquiring an additional 1,674,827 shares during the period. Reaves W H & Co. Inc. grew its holdings in Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after acquiring an additional 667,773 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock worth $59,023,000 after acquiring an additional 634,587 shares during the period. Finally, Cohen & Steers Inc. grew its holdings in Public Service Enterprise Group by 23.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after acquiring an additional 455,693 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Insiders have sold a total of 30,068 shares of company stock worth $2,406,965 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $84.24 on Thursday. The stock’s fifty day moving average price is $79.35 and its two-hundred day moving average price is $73.31. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $85.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The firm has a market cap of $41.96 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 3.03 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 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 quarter last year, the business earned $0.70 EPS. Public Service Enterprise Group’s revenue was up .1% on a year-over-year basis. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets lifted 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 research report on Friday, August 2nd. Bank of America lifted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Scotiabank lifted their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, 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. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.