OLD Republic International Corp Sells 10,000 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

OLD Republic International Corp decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 392,500 shares of the utilities provider’s stock after selling 10,000 shares during the quarter. OLD Republic International Corp owned 0.08% of Public Service Enterprise Group worth $24,001,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Operose Advisors LLC boosted its holdings in Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares during the last quarter. Addison Advisors LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth about $31,000. CNB Bank acquired a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $34,000. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $36,000. Finally, Anchor Investment Management LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.4 %

Public Service Enterprise Group stock traded up $0.29 during trading hours on Friday, hitting $73.89. The stock had a trading volume of 1,286,845 shares, compared to its average volume of 2,882,948. The business’s 50 day simple moving average is $66.42 and its 200-day simple moving average is $62.94. The stock has a market cap of $36.80 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 3.08 and a beta of 0.56. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $74.37. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.25%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PEG shares. Scotiabank lowered their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research note on Monday, January 22nd. Finally, Barclays boosted their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 transaction, the senior vice president now directly 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 available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the 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 completion of the transaction, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,322 shares of company stock valued at $607,376. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group 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.