New York State Teachers Retirement System Sells 32,007 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Teachers Retirement System decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 436,476 shares of the utilities provider's stock after selling 32,007 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Public Service Enterprise Group worth $35,922,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Transce3nd LLC purchased a new position in Public Service Enterprise Group in the fourth quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth $25,000. REAP Financial Group LLC grew its holdings 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 worth $27,000 after buying an additional 162 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $39,000. Finally, Optiver Holding B.V. acquired a new position in Public Service Enterprise Group in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PEG shares. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Guggenheim decreased their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. LADENBURG THALM/SH SH cut shares of 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. Evercore ISI reduced their price objective 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, BMO Capital Markets cut 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 report 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $89.54.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $1.64 during midday trading on Wednesday, hitting $81.23. 2,221,884 shares of the company's stock were exchanged, compared to its average volume of 2,778,010. Public Service Enterprise Group Incorporated has a 12 month low of $73.40 and a 12 month high of $95.22. The firm has a market capitalization of $40.53 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.97 and a beta of 0.48. The company's 50 day moving average price is $80.43 and its 200 day moving average price is $82.31. 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 posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a $0.63 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.10%. Public Service Enterprise Group's payout ratio is presently 68.85%.

About Public Service Enterprise Group

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.