Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 31.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,074 shares of the utilities provider’s stock after selling 2,735 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Public Service Enterprise Group were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PEG. IFP Advisors Inc raised its holdings in shares of Public Service Enterprise Group by 16.9% in the third quarter. IFP Advisors Inc now owns 1,657 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 239 shares during the last quarter. Czech National Bank grew its position in shares of Public Service Enterprise Group by 47.7% in the third quarter. Czech National Bank now owns 87,234 shares of the utilities provider’s stock valued at $4,964,000 after purchasing an additional 28,167 shares during the period. My Legacy Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $335,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter valued at $116,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Public Service Enterprise Group by 3.1% in the third quarter. Commonwealth Equity Services LLC now owns 276,675 shares of the utilities provider’s stock valued at $15,746,000 after purchasing an additional 8,364 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares in the company, valued at $10,111,270.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the sale, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,948 shares of company stock worth $511,814. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEG. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Scotiabank lowered their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. Barclays boosted their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.15.

Public Service Enterprise Group Stock Down 0.4 %

Shares of PEG traded down $0.27 during midday trading on Friday, reaching $67.82. 2,973,057 shares of the company were exchanged, compared to its average volume of 2,445,853. The stock has a 50-day moving average price of $64.64 and a 200-day moving average price of $62.28. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 2.98 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $68.39. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was down 17.0% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 46.78%.

About Public Service Enterprise Group

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.