Public Service Enterprise Group Inc. (PEG) Shares Sold by Suntrust Banks Inc.

Suntrust Banks Inc. decreased its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 268,737 shares of the utilities provider’s stock after selling 13,364 shares during the period. Suntrust Banks Inc.’s holdings in Public Service Enterprise Group were worth $13,838,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI bought a new stake in Public Service Enterprise Group during the third quarter valued at $340,000. Reaves W H & Co. Inc. bought a new stake in Public Service Enterprise Group during the third quarter valued at $22,266,000. Bank of Montreal Can boosted its stake in Public Service Enterprise Group by 12.5% during the fourth quarter. Bank of Montreal Can now owns 819,808 shares of the utilities provider’s stock valued at $42,219,000 after buying an additional 91,251 shares during the period. California Public Employees Retirement System boosted its stake in Public Service Enterprise Group by 6.5% during the third quarter. California Public Employees Retirement System now owns 1,441,287 shares of the utilities provider’s stock valued at $66,660,000 after buying an additional 87,822 shares during the period. Finally, Alliance Wealth Management Group boosted its stake in Public Service Enterprise Group by 100.0% during the third quarter. Alliance Wealth Management Group now owns 24,222 shares of the utilities provider’s stock valued at $1,120,000 after buying an additional 12,111 shares during the period. 66.78% of the stock is owned by institutional investors.

In other news, CEO Ralph Izzo sold 20,833 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $51.00, for a total value of $1,062,483.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 62,499 shares of company stock valued at $3,232,240. 0.61% of the stock is currently owned by corporate insiders.

Shares of Public Service Enterprise Group Inc. (NYSE PEG) opened at $48.53 on Thursday. Public Service Enterprise Group Inc. has a 52 week low of $41.67 and a 52 week high of $53.28. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $24,942.65, a PE ratio of 17.00, a PEG ratio of 4.18 and a beta of 0.39.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 8th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Wednesday, March 7th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.43. Public Service Enterprise Group’s payout ratio is 166.99%.

Several equities research analysts recently issued reports on PEG shares. Argus lifted their price objective on Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Wells Fargo & Co raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 1st. Zacks Investment Research lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Morgan Stanley lifted their price target on Public Service Enterprise Group from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Finally, Guggenheim reaffirmed a “buy” rating and set a $58.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, January 3rd. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $51.04.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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