Public Service Enterprise Group Inc. (NYSE:PEG) Chairman Ralph Izzo sold 25,993 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $41.36, for a total transaction of $1,075,070.48. Following the sale, the chairman now directly owns 727,346 shares of the company’s stock, valued at approximately $30,083,030.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ralph Izzo also recently made the following trade(s):

  • On Tuesday, August 30th, Ralph Izzo sold 11,147 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $42.86, for a total transaction of $477,760.42.
  • On Monday, August 1st, Ralph Izzo sold 43,564 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $45.76, for a total transaction of $1,993,488.64.

Public Service Enterprise Group Inc. (NYSE:PEG) traded up 0.59% during midday trading on Friday, reaching $40.99. The company’s stock had a trading volume of 124,900 shares. Public Service Enterprise Group Inc. has a 12-month low of $36.80 and a 12-month high of $47.41. The company has a market cap of $20.74 billion, a P/E ratio of 14.80 and a beta of 0.25. The firm has a 50 day moving average price of $42.58 and a 200-day moving average price of $44.70.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.01. Public Service Enterprise Group had a net margin of 14.82% and a return on equity of 10.71%. During the same period in the previous year, the company earned $0.57 earnings per share. On average, equities research analysts predict that Public Service Enterprise Group Inc. will post $2.87 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Public Service Enterprise Group (NYSE:PEG)

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 9th were issued a $0.41 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.02%. Public Service Enterprise Group’s dividend payout ratio is presently 59.21%.

Several hedge funds and other institutional investors have recently made changes to their positions in PEG. JPMorgan Chase & Co. increased its position in shares of Public Service Enterprise Group by 110.1% in the second quarter. JPMorgan Chase & Co. now owns 6,076,488 shares of the company’s stock worth $283,225,000 after buying an additional 3,184,380 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Public Service Enterprise Group during the first quarter worth about $104,644,000. State Street Corp increased its position in shares of Public Service Enterprise Group by 9.0% in the first quarter. State Street Corp now owns 25,966,732 shares of the company’s stock worth $1,224,092,000 after buying an additional 2,147,656 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Public Service Enterprise Group by 27.6% in the second quarter. BlackRock Advisors LLC now owns 7,541,046 shares of the company’s stock worth $351,488,000 after buying an additional 1,632,324 shares in the last quarter. Finally, USS Investment Management Ltd increased its position in shares of Public Service Enterprise Group by 801.3% in the second quarter. USS Investment Management Ltd now owns 1,330,299 shares of the company’s stock worth $61,999,000 after buying an additional 1,182,700 shares in the last quarter. Institutional investors and hedge funds own 66.37% of the company’s stock.

Several equities research analysts recently weighed in on PEG shares. Zacks Investment Research cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Deutsche Bank AG reissued a “hold” rating and issued a $47.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, June 15th. Argus dropped their target price on shares of Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, September 20th. Morgan Stanley raised shares of Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $43.00 to $47.00 in a report on Wednesday, July 13th. Finally, Barclays PLC increased their target price on shares of Public Service Enterprise Group from $47.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, September 22nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $46.75.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

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