Hsbc Holdings PLC Has $123.25 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hsbc Holdings PLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 23.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,459,047 shares of the utilities provider's stock after selling 441,088 shares during the quarter. Hsbc Holdings PLC owned approximately 0.29% of Public Service Enterprise Group worth $123,250,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Transce3nd LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $39,000. Nemes Rush Group LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $53,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $54,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEG has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Bank of America cut their price target 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. Guggenheim reissued a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, StockNews.com raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $89.35.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded down $0.32 during trading on Monday, reaching $80.71. The company had a trading volume of 629,700 shares, compared to its average volume of 2,709,727. Public Service Enterprise Group Incorporated has a one year low of $66.57 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm's 50 day simple moving average is $81.62 and its two-hundred day simple moving average is $85.15. The company has a market capitalization of $40.24 billion, a PE ratio of 19.82, a PEG ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business's quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 71.19%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company's stock.

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.