Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,826,477 shares of the utilities provider’s stock after buying an additional 30,469 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Public Service Enterprise Group were worth $172,839,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares during the period. Hsbc Holdings PLC raised its holdings in Public Service Enterprise Group by 118.1% during the third quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock valued at $77,544,000 after buying an additional 738,684 shares in the last quarter. Assetmark Inc. lifted its position in Public Service Enterprise Group by 562.8% during the 3rd quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock worth $49,504,000 after acquiring an additional 738,619 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Public Service Enterprise Group by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after purchasing an additional 726,613 shares during the period. Finally, Bank of Nova Scotia raised its stake in Public Service Enterprise Group by 1,350.4% during the 3rd quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock valued at $30,353,000 after purchasing an additional 496,581 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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 dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated 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 directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The disclosure for this sale can be found here. Insiders sold 9,322 shares of company stock valued at $607,376 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $73.60 on Friday. The firm’s 50-day moving average price is $66.20 and its 200-day moving average price is $62.87. The firm has a market capitalization of $36.66 billion, a P/E ratio of 20.39, a P/E/G ratio of 3.08 and a beta of 0.56. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $73.65.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. The business’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PEG shares. Barclays raised their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Bank of America boosted their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Scotiabank lowered their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.15.

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.