Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 67.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,241 shares of the utilities provider's stock after selling 301,258 shares during the period. Los Angeles Capital Management LLC's holdings in Public Service Enterprise Group were worth $11,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transce3nd LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC lifted its position in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after acquiring an additional 162 shares in the last quarter. Optiver Holding B.V. acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $50,000. Finally, Nemes Rush Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $53,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

PEG stock opened at $84.43 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The firm has a market cap of $42.13 billion, a P/E ratio of 23.07, a P/E/G ratio of 3.02 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $73.83 and a 12-month high of $95.22. The stock's 50 day simple moving average is $80.98 and its 200 day simple moving average is $82.05.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 EPS. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 2.98%. Public Service Enterprise Group's payout ratio is 68.85%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Barclays reduced their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday. 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. Guggenheim reduced their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Morgan Stanley cut their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Hold" and an average target price of $89.86.

Insider Activity

In other 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 completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.19% of the company's stock.

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.

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