MassMutual Private Wealth & Trust FSB Sells 6,387 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

MassMutual Private Wealth & Trust FSB lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 76.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,956 shares of the utilities provider's stock after selling 6,387 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Public Service Enterprise Group were worth $161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. increased its position in Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after buying an additional 120 shares during the period. Spire Wealth Management increased its position in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock worth $440,000 after purchasing an additional 121 shares during the period. Larson Financial Group LLC increased its position in shares of Public Service Enterprise Group by 10.1% in the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock worth $128,000 after purchasing an additional 139 shares during the period. Copperwynd Financial LLC increased its position in shares of Public Service Enterprise Group by 1.4% in the fourth quarter. Copperwynd Financial LLC now owns 10,714 shares of the utilities provider's stock worth $905,000 after purchasing an additional 145 shares during the period. Finally, Duncker Streett & Co. Inc. increased its position in shares of Public Service Enterprise Group by 3.5% in the fourth quarter. Duncker Streett & Co. Inc. now owns 4,553 shares of the utilities provider's stock worth $385,000 after purchasing an additional 153 shares during the period. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on PEG. Bank of America decreased their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Barclays decreased their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI decreased 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. BMO Capital Markets decreased 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 report on Thursday, April 10th. Finally, Morgan Stanley lowered their target price on Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. One equities research 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's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus price target of $89.63.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Down 0.7%

Shares of Public Service Enterprise Group stock traded down $0.60 during trading on Thursday, hitting $79.79. The company's stock had a trading volume of 2,112,607 shares, compared to its average volume of 2,785,938. The stock has a market cap of $39.82 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22. The stock has a 50-day moving average price of $80.26 and a two-hundred day moving average price of $83.48. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the company posted $1.31 EPS. The business's revenue was up 16.7% on a year-over-year basis. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared 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 of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.16%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 68.85%.

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.