Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,311 shares of the utilities provider’s stock after selling 3,315 shares during the quarter. Amalgamated Bank’s holdings in Public Service Enterprise Group were worth $7,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Operose Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the period. Addison Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $31,000. CNB Bank acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $34,000. Bruce G. Allen Investments LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter worth $36,000. Finally, Anchor Investment Management LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of several research analyst reports. Bank of America increased their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Evercore ISI lifted their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Stock Up 0.6 %

Shares of NYSE PEG opened at $70.45 on Friday. The stock has a market capitalization of $35.09 billion, a PE ratio of 19.52, a P/E/G ratio of 3.08 and a beta of 0.56. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.46. The business’s fifty day moving average price is $65.56 and its 200-day moving average price is $62.60. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $70.54.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. Public Service Enterprise Group’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 earnings per share. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.41%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,322 shares of company stock worth $607,376. Insiders own 0.57% of the company’s stock.

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.