ClariVest Asset Management LLC grew its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,062 shares of the utilities provider’s stock after purchasing an additional 297 shares during the quarter. ClariVest Asset Management LLC’s holdings in Public Service Enterprise Group were worth $597,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Zions Bancorporation N.A. bought a new position in Public Service Enterprise Group during the first quarter worth $25,000. Athena Capital Advisors LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth $33,000. Truvestments Capital LLC bought a new position in Public Service Enterprise Group during the first quarter worth $49,000. JNBA Financial Advisors bought a new position in Public Service Enterprise Group during the fourth quarter worth $45,000. Finally, Wealthcare Advisory Partners LLC boosted its stake in Public Service Enterprise Group by 76.2% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 890 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 385 shares in the last quarter. 68.88% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on PEG shares. Mizuho increased their target price on shares of Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Wells Fargo & Co upped their price objective on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. JPMorgan Chase & Co. downgraded shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $64.00 to $62.00 in a report on Tuesday, April 23rd. Deutsche Bank downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective on the stock. in a report on Thursday, February 28th. Finally, Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $60.75.
PEG opened at $60.96 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.68. Public Service Enterprise Group Inc. has a 1-year low of $49.22 and a 1-year high of $61.63. The firm has a market cap of $30.81 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 3.14 and a beta of 0.41.
Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.08. Public Service Enterprise Group had a net margin of 16.03% and a return on equity of 11.35%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.47 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.08%. Public Service Enterprise Group’s dividend payout ratio is currently 60.26%.
In other news, Chairman Ralph Izzo sold 52,407 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $58.49, for a total value of $3,065,285.43. Following the completion of the sale, the chairman now owns 464,006 shares in the company, valued at $27,139,710.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 13,535 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $60.04, for a total transaction of $812,641.40. Following the completion of the sale, the executive vice president now owns 49,909 shares of the company’s stock, valued at approximately $2,996,536.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,330 shares of company stock valued at $10,384,926. 0.51% of the stock is currently owned by corporate insiders.
WARNING: “ClariVest Asset Management LLC Has $597,000 Stake in Public Service Enterprise Group Inc. (NYSE:PEG)” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.dispatchtribunal.com/2019/06/16/clarivest-asset-management-llc-has-597000-stake-in-public-service-enterprise-group-inc-nysepeg.html.
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; 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.
Featured Article: How Investors Use a Balance Sheet
Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Inc. (NYSE:PEG).
Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.