Public Service Enterprise Group Inc. (PEG) Holdings Trimmed by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. lowered its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,347 shares of the utilities provider’s stock after selling 1,611 shares during the quarter. Public Service Enterprise Group makes up approximately 1.4% of Orrstown Financial Services Inc.’s portfolio, making the stock its 27th largest holding. Orrstown Financial Services Inc.’s holdings in Public Service Enterprise Group were worth $971,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEG. Caxton Associates LP bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $264,000. Candriam Luxembourg S.C.A. boosted its holdings in shares of Public Service Enterprise Group by 50.8% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 55,187 shares of the utilities provider’s stock valued at $2,872,000 after buying an additional 18,581 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 12.1% during the 4th quarter. Bessemer Group Inc. now owns 2,627 shares of the utilities provider’s stock valued at $137,000 after buying an additional 284 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Public Service Enterprise Group by 7.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 91,468 shares of the utilities provider’s stock valued at $4,761,000 after buying an additional 6,081 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Public Service Enterprise Group by 51.9% during the 4th quarter. Segall Bryant & Hamill LLC now owns 81,154 shares of the utilities provider’s stock valued at $4,224,000 after buying an additional 27,740 shares in the last quarter. Institutional investors own 69.01% of the company’s stock.

Shares of NYSE:PEG opened at $58.94 on Friday. The company has a market cap of $29.98 billion, a P/E ratio of 18.89, a P/E/G ratio of 2.93 and a beta of 0.41. The company has a quick ratio of 0.53, a current ratio of 0.71 and a debt-to-equity ratio of 0.92. Public Service Enterprise Group Inc. has a 12-month low of $49.22 and a 12-month high of $60.36.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, February 27th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.40 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 14.83%. During the same period in the previous year, the company posted $0.57 EPS. On average, sell-side analysts expect that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.47 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.19%. Public Service Enterprise Group’s payout ratio is 60.26%.

PEG has been the subject of several recent analyst reports. Zacks Investment Research lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. JPMorgan Chase & Co. lowered Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $64.00 to $62.00 in a research report on Tuesday. ValuEngine lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 target price for the company in a research report on Thursday, January 17th. Finally, Wolfe Research raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 22nd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $59.73.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $58.51, for a total value of $96,541.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph Izzo sold 52,406 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $59.08, for a total value of $3,096,146.48. Following the completion of the transaction, the chief executive officer now owns 487,843 shares of the company’s stock, valued at $28,821,764.44. The disclosure for this sale can be found here. Insiders sold a total of 178,405 shares of company stock valued at $10,271,259 over the last 90 days. 0.51% of the stock is currently owned by corporate insiders.

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Public Service Enterprise Group 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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