Kentucky Retirement Systems Insurance Trust Fund Sells 3,413 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,501 shares of the utilities provider's stock after selling 3,413 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Public Service Enterprise Group were worth $1,193,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Up 0.8%

NYSE PEG traded up $0.68 during trading hours on Friday, reaching $83.71. 2,755,979 shares of the company's stock were exchanged, compared to its average volume of 2,802,212. The company's 50-day moving average is $80.33 and its two-hundred day moving average is $82.39. The company has a market capitalization of $41.77 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 2.97 and a beta of 0.48. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. Public Service Enterprise Group Incorporated has a one year low of $72.82 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 11.80% and a net margin of 17.01%. Public Service Enterprise Group's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group's payout ratio is 68.85%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PEG. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Guggenheim dropped their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI reduced their price target on 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. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Finally, BMO Capital Markets cut their target price on 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 research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Hold" and an average target price 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.