Y Intercept Hong Kong Ltd Has $2.18 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 54.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 26,445 shares of the utilities provider's stock after selling 31,849 shares during the period. Y Intercept Hong Kong Ltd's holdings in Public Service Enterprise Group were worth $2,176,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Centre Asset Management LLC lifted its stake in Public Service Enterprise Group by 3.2% during the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after purchasing an additional 121 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Public Service Enterprise Group by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after purchasing an additional 130 shares during the period. Apella Capital LLC lifted its stake in Public Service Enterprise Group by 2.7% during the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after purchasing an additional 144 shares during the period. Net Worth Advisory Group lifted its stake in Public Service Enterprise Group by 5.6% during the first quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock worth $231,000 after purchasing an additional 148 shares during the period. Finally, HM Payson & Co. lifted its stake in Public Service Enterprise Group by 4.5% during the first quarter. HM Payson & Co. now owns 3,635 shares of the utilities provider's stock worth $299,000 after purchasing an additional 158 shares during the period. 73.34% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PEG. UBS Group raised their price target 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. Barclays cut their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $83.00 to $84.00 and gave the company a "market perform" rating in a report on Tuesday. 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. Finally, Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group has an average rating of "Hold" and an average price target of $90.50.

Public Service Enterprise Group Trading Up 0.8%

PEG stock traded up $0.73 during trading on Friday, hitting $87.66. The company had a trading volume of 1,917,995 shares, compared to its average volume of 2,360,661. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $81.79 and a 200-day moving average price of $82.10. Public Service Enterprise Group Incorporated has a 12 month low of $74.20 and a 12 month high of $95.22. The stock has a market cap of $43.74 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 3.14 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during 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%. Public Service Enterprise Group's revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 EPS. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 68.85%.

Public Service Enterprise Group Company Profile

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.