Sanibel Captiva Trust Company Inc. Sells 7,885 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Sanibel Captiva Trust Company Inc. decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 160,623 shares of the utilities provider's stock after selling 7,885 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in Public Service Enterprise Group were worth $13,219,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC boosted its position in Public Service Enterprise Group by 2.6% in the 4th quarter. Apollon Wealth Management LLC now owns 15,100 shares of the utilities provider's stock valued at $1,276,000 after buying an additional 387 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Public Service Enterprise Group by 22.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 7,360 shares of the utilities provider's stock valued at $622,000 after purchasing an additional 1,334 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in Public Service Enterprise Group by 4.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 10,607 shares of the utilities provider's stock worth $896,000 after buying an additional 418 shares during the period. Empowered Funds LLC grew its position in Public Service Enterprise Group by 9.6% in the 4th quarter. Empowered Funds LLC now owns 9,163 shares of the utilities provider's stock worth $774,000 after purchasing an additional 801 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $2,010,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research analyst reports. Evercore ISI cut their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Guggenheim dropped their target price 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. Barclays lowered their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Hold" and an average target price of $89.63.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded down $0.67 during mid-day trading on Friday, hitting $80.89. 2,446,620 shares of the company were exchanged, compared to its average volume of 2,801,567. Public Service Enterprise Group Incorporated has a 1-year low of $71.89 and a 1-year high of $95.22. The company has a market capitalization of $40.36 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The business has a fifty day moving average of $80.29 and a 200 day moving average of $82.99. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

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. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. 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 prior year, the firm earned $1.31 EPS. The company's revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.12%. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction on 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 in the company, valued at $17,523,831.18. This represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.

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.