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Bollard Group LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 394,628 shares of the utilities provider’s stock after acquiring an additional 3,330 shares during the period. Public Service Enterprise Group makes up about 0.9% of Bollard Group LLC’s holdings, making the stock its 19th largest holding. Bollard Group LLC owned approximately 0.08% of Public Service Enterprise Group worth $24,645,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth $25,000. Ahrens Investment Partners LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter valued at about $31,000. ICA Group Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $31,000. Clear Street Markets LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $31,000. Finally, New Hampshire Trust acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 72.28% of the company’s stock.
Public Service Enterprise Group Stock Down 1.1 %
Public Service Enterprise Group stock traded down $0.67 during trading on Friday, reaching $60.41. The stock had a trading volume of 1,302,735 shares, compared to its average volume of 2,385,109. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.09. Public Service Enterprise Group Incorporated has a 52-week low of $52.51 and a 52-week high of $69.27. The stock has a market cap of $30.15 billion, a PE ratio of 10.99, a P/E/G ratio of 3.25 and a beta of 0.58. The business has a 50 day moving average price of $62.15 and a 200 day moving average price of $61.70.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. Public Service Enterprise Group had a net margin of 23.99% and a return on equity of 12.64%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.45 EPS for the current year.
Public Service Enterprise Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 41.01%.
Analysts Set New Price Targets
A number of analysts have issued reports on PEG shares. The Goldman Sachs Group assumed coverage on Public Service Enterprise Group in a research report on Wednesday, June 7th. They issued a “neutral” rating and a $64.00 target price on the stock. Morgan Stanley cut their price objective on Public Service Enterprise Group from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. StockNews.com began coverage on Public Service Enterprise Group in a report on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, August 17th. Finally, Mizuho increased their price target on shares of Public Service Enterprise Group from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.05.
Get Our Latest Stock Report on Public Service Enterprise Group
Insider Buying and Selling
In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 8,074 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $64.45, for a total value of $520,369.30. Following the transaction, the chief executive officer now directly owns 115,306 shares in the company, valued at $7,431,471.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Ralph A. Larossa sold 4,168 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $63.01, for a total value of $262,625.68. Following the completion of the sale, the chief executive officer now directly owns 122,572 shares of the company’s stock, valued at approximately $7,723,261.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 8,074 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $64.45, for a total value of $520,369.30. Following the transaction, the chief executive officer now owns 115,306 shares in the company, valued at approximately $7,431,471.70. The disclosure for this sale can be found here. Insiders sold a total of 12,442 shares of company stock worth $795,147 over the last 90 days. 0.57% of the stock is owned by insiders.
Public Service Enterprise Group Company Profile
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.
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