Deutsche Bank AG Sells 29,209 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Key Points

• Deutsche Bank AG has reduced its stake in Public Service Enterprise Group by 2.0%, now holding 1,423,424 shares valued at approximately $117.15 million.
• Public Service Enterprise Group reported an earnings per share (EPS) of $0.77, surpassing analysts' expectations and showing a 15.8% increase in revenue compared to the same quarter last year.
• The company recently declared a quarterly dividend of $0.63 per share, resulting in an annual yield of 2.9%.

Deutsche Bank AG decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,423,424 shares of the utilities provider's stock after selling 29,209 shares during the quarter. Deutsche Bank AG owned approximately 0.29% of Public Service Enterprise Group worth $117,148,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $25,000. REAP Financial Group LLC increased its stake 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 acquiring an additional 162 shares during the last quarter. Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $50,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Public Service Enterprise Group by 105.9% in the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock valued at $58,000 after buying an additional 361 shares during the period. Institutional investors own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were 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 $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 0.9%

Public Service Enterprise Group stock traded down $0.77 during mid-day trading on Thursday, hitting $86.91. 546,277 shares of the company's stock were exchanged, compared to its average volume of 2,877,381. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The stock has a 50 day moving average of $83.98 and a two-hundred day moving average of $82.23. The stock has a market cap of $43.37 billion, a P/E ratio of 21.95, a P/E/G ratio of 3.06 and a beta of 0.45. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. The company's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.9%. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEG. UBS Group increased their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Guggenheim cut their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Finally, Barclays lowered their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Hold" and a consensus target price of $90.95.

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.