Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 17.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 86,256 shares of the utilities provider's stock after selling 18,556 shares during the quarter. Public Service Enterprise Group accounts for 4.6% of Ausbil Investment Management Ltd's portfolio, making the stock its 4th biggest position. Ausbil Investment Management Ltd's holdings in Public Service Enterprise Group were worth $7,099,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $25,000. REAP Financial Group LLC boosted its position in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $39,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now directly owns 221,093 shares in the company, valued at $17,523,831.18. The trade was a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Up 0.4%

PEG traded up $0.32 on Thursday, reaching $83.07. 2,383,728 shares of the company traded hands, compared to its average volume of 2,802,396. Public Service Enterprise Group Incorporated has a one year low of $72.82 and a one year high of $95.22. The firm has a fifty day simple moving average of $80.33 and a two-hundred day simple moving average of $82.39. The company has a market cap of $41.45 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.97 and a beta of 0.48. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The company's revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 EPS. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 68.85%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PEG shares. Bank of America lowered their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Evercore ISI cut their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $89.54.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.