Public Service Enterprise Group Inc. (PEG) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 38.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,669,544 shares of the utilities provider’s stock after selling 1,041,000 shares during the period. LSV Asset Management’s holdings in Public Service Enterprise Group were worth $99,187,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Athena Capital Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $33,000. JNBA Financial Advisors bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $45,000. Wealthcare Advisory Partners LLC raised its stake in Public Service Enterprise Group by 76.2% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 890 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 385 shares in the last quarter. Essex Savings Bank bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $49,000. Finally, Truvestments Capital LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $49,000. Institutional investors own 68.69% of the company’s stock.

In related news, CFO Daniel J. Cregg sold 625 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $59.25, for a total transaction of $37,031.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Ralph Izzo sold 52,407 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $58.49, for a total value 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 disclosure for this sale can be found here. Insiders sold 180,679 shares of company stock valued at $10,657,989 in the last ninety days. Insiders own 0.51% of the company’s stock.

A number of brokerages have recently issued reports on PEG. JPMorgan Chase & Co. lowered Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $64.00 to $62.00 in a research report on Tuesday, April 23rd. Mizuho lifted their price target on Public Service Enterprise Group from $54.00 to $61.50 and gave the company a “buy” rating in a report on Wednesday, March 13th. Wells Fargo & Co lifted their price target on Public Service Enterprise Group from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. Deutsche Bank downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price target on the stock. in a report on Thursday, February 28th. Finally, ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $59.73.

Shares of NYSE PEG opened at $60.43 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. Public Service Enterprise Group Inc. has a one year low of $49.22 and a one year high of $60.58. The stock has a market capitalization of $30.54 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 3.06 and a beta of 0.40.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.08. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. On average, equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.27 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.47 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. Public Service Enterprise Group’s dividend payout ratio is currently 60.26%.

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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.

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

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