Ralph Izzo Sells 20,833 Shares of Public Service Enterprise Group Inc. (PEG) Stock

Public Service Enterprise Group Inc. (NYSE:PEG) Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $53.85, for a total transaction of $1,121,857.05. Following the transaction, the chairman now directly owns 574,131 shares of the company’s stock, valued at $30,916,954.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ralph Izzo also recently made the following trade(s):

  • On Friday, June 1st, Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $52.50, for a total transaction of $1,093,732.50.
  • On Tuesday, May 1st, Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $52.02, for a total transaction of $1,083,732.66.

PEG opened at $53.42 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $27.02 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 2.81 and a beta of 0.41. Public Service Enterprise Group Inc. has a 1-year low of $41.67 and a 1-year high of $54.50.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, April 30th. The utilities provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.02). The company had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.74 billion. Public Service Enterprise Group had a net margin of 21.68% and a return on equity of 11.22%. During the same quarter in the previous year, the business posted $0.92 EPS. equities research analysts forecast that Public Service Enterprise Group Inc. will post 3.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 8th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.37%. The ex-dividend date was Thursday, June 7th. Public Service Enterprise Group’s payout ratio is presently 61.43%.

PEG has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $52.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, March 14th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Monday, March 12th. JPMorgan Chase & Co. raised their price objective on shares of Public Service Enterprise Group from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, May 29th. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $57.00 to $59.00 and gave the stock an “overweight” rating in a report on Friday, May 25th. Finally, Bank of America raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating in a report on Monday, April 16th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Public Service Enterprise Group has an average rating of “Buy” and an average price target of $52.32.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Avalon Advisors LLC increased its position in Public Service Enterprise Group by 35.9% in the 1st quarter. Avalon Advisors LLC now owns 292,808 shares of the utilities provider’s stock valued at $14,710,000 after acquiring an additional 77,355 shares in the last quarter. Cynosure Advisors LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at about $1,383,000. Chesapeake Wealth Management acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at about $365,000. Suntrust Banks Inc. increased its position in Public Service Enterprise Group by 7.1% in the 1st quarter. Suntrust Banks Inc. now owns 287,695 shares of the utilities provider’s stock valued at $14,452,000 after acquiring an additional 18,958 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its position in Public Service Enterprise Group by 24.8% in the 1st quarter. Summit Trail Advisors LLC now owns 7,496 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 1,489 shares in the last quarter. Hedge funds and other institutional investors own 68.18% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and 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 to customers.

Insider Buying and Selling by Quarter for Public Service Enterprise Group (NYSE:PEG)

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