Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 24.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,133 shares of the utilities provider's stock after selling 28,127 shares during the quarter. USS Investment Management Ltd's holdings in Public Service Enterprise Group were worth $7,197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PEG. Merit Financial Group LLC grew its stake in shares of Public Service Enterprise Group by 35.0% during the fourth quarter. Merit Financial Group LLC now owns 10,747 shares of the utilities provider's stock worth $908,000 after acquiring an additional 2,787 shares during the last quarter. Arkadios Wealth Advisors grew its position in Public Service Enterprise Group by 3.6% during the 4th quarter. Arkadios Wealth Advisors now owns 5,584 shares of the utilities provider's stock worth $472,000 after purchasing an additional 192 shares during the last quarter. Ameritas Advisory Services LLC increased its stake in Public Service Enterprise Group by 63.4% during the 4th quarter. Ameritas Advisory Services LLC now owns 4,591 shares of the utilities provider's stock valued at $388,000 after purchasing an additional 1,781 shares in the last quarter. UMB Bank n.a. increased its stake in Public Service Enterprise Group by 8.4% during the 4th quarter. UMB Bank n.a. now owns 8,842 shares of the utilities provider's stock valued at $747,000 after purchasing an additional 682 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Public Service Enterprise Group by 6.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 8,343 shares of the utilities provider's stock worth $705,000 after buying an additional 507 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Evercore ISI lowered their price target 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. BMO Capital Markets cut their price objective on 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. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $89.63.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

PEG traded up $0.59 during midday trading on Tuesday, hitting $79.55. 788,671 shares of the company traded hands, compared to its average volume of 2,742,081. The business has a 50 day simple moving average of $80.55 and a two-hundred day simple moving average of $83.84. Public Service Enterprise Group Incorporated has a 52-week low of $71.89 and a 52-week high of $95.22. The company has a market capitalization of $39.69 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.78 and a beta of 0.48. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting 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 period last year, the company posted $1.31 EPS. Public Service Enterprise Group's quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities analysts forecast 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 company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's payout ratio is 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.