Raymond James Trust N.A. Sells 3,447 Shares of Public Service Enterprise Group Inc. (PEG)

Raymond James Trust N.A. cut its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 4.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 72,262 shares of the utilities provider’s stock after selling 3,447 shares during the quarter. Raymond James Trust N.A.’s holdings in Public Service Enterprise Group were worth $4,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Public Service Enterprise Group by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 40,281,314 shares of the utilities provider’s stock worth $2,126,450,000 after buying an additional 545,315 shares during the period. Vanguard Group Inc lifted its holdings in Public Service Enterprise Group by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 40,281,314 shares of the utilities provider’s stock worth $2,126,450,000 after buying an additional 545,315 shares during the period. Geode Capital Management LLC lifted its holdings in Public Service Enterprise Group by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 6,527,327 shares of the utilities provider’s stock worth $339,147,000 after buying an additional 489,501 shares during the period. Northern Trust Corp lifted its holdings in Public Service Enterprise Group by 4.8% during the 4th quarter. Northern Trust Corp now owns 5,974,966 shares of the utilities provider’s stock worth $310,998,000 after buying an additional 271,105 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Public Service Enterprise Group by 3.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,493,619 shares of the utilities provider’s stock worth $233,893,000 after buying an additional 164,667 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $58.49, for a total transaction of $3,065,285.43. Following the transaction, the chairman now directly owns 464,006 shares of the company’s stock, valued at approximately $27,139,710.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Stuart J. Black sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $59.07, for a total value of $354,420.00. Following the transaction, the vice president now directly owns 24,981 shares in the company, valued at $1,475,627.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,220 shares of company stock worth $9,362,076. 0.51% of the stock is owned by company insiders.

Shares of NYSE:PEG traded up $0.10 during midday trading on Monday, reaching $59.99. The company’s stock had a trading volume of 1,880,798 shares, compared to its average volume of 3,148,137. The company has a market capitalization of $30.38 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 2.92 and a beta of 0.41. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.71 and a quick ratio of 0.53. Public Service Enterprise Group Inc. has a fifty-two week low of $49.02 and a fifty-two week high of $60.36.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 14.83%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the business earned $0.57 EPS. Analysts anticipate that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.47 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio is 60.26%.

Several research analysts have commented on PEG shares. Zacks Investment Research downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price objective on the stock in a research note on Thursday, January 17th. ValuEngine downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Wolfe Research raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 22nd. Finally, Deutsche Bank downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective on the stock. in a research note on Thursday, February 28th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $59.10.

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Public Service Enterprise Group Company Profile

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; 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.

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

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