KBC Group NV Reduces Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

KBC Group NV trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 47.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,705 shares of the utilities provider's stock after selling 59,261 shares during the period. KBC Group NV's holdings in Public Service Enterprise Group were worth $5,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Transce3nd LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $25,000. REAP Financial Group LLC increased its position in 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 worth $27,000 after buying an additional 162 shares during the period. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $39,000. Finally, Optiver Holding B.V. purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at $50,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $0.47 during midday trading on Friday, hitting $81.69. The company had a trading volume of 2,018,416 shares, compared to its average volume of 2,779,335. The firm has a market capitalization of $40.76 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.91 and a beta of 0.48. Public Service Enterprise Group Incorporated has a twelve month low of $73.72 and a twelve month high of $95.22. The business has a 50-day simple moving average of $80.43 and a two-hundred day simple moving average of $82.25. 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 issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.43. The company 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 firm's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the company posted $1.31 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Analysts Set New Price Targets

PEG has been the topic of several research reports. Evercore ISI lowered their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Guggenheim cut their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. Finally, BMO Capital Markets dropped their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $89.54.

Public Service Enterprise Group 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.