Kapitalo Investimentos Ltda Sells 3,965 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kapitalo Investimentos Ltda trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 90.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429 shares of the utilities provider's stock after selling 3,965 shares during the period. Kapitalo Investimentos Ltda's holdings in Public Service Enterprise Group were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Center for Financial Planning Inc. lifted its position in shares of Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after purchasing an additional 120 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after purchasing an additional 121 shares during the period. United Asset Strategies Inc. raised its holdings in shares of Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock worth $416,000 after purchasing an additional 127 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock valued at $2,990,000 after acquiring an additional 139 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Public Service Enterprise Group by 10.1% in the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock worth $128,000 after purchasing an additional 139 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Bank of America decreased their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. Barclays lowered their target price 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 note on Tuesday, April 8th. Finally, Morgan Stanley upped their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $88.81.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, May 1st. The stock was 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 trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded down $1.14 during trading on Monday, hitting $78.34. 3,537,894 shares of the stock were exchanged, compared to its average volume of 2,718,706. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 12 month low of $70.28 and a 12 month high of $95.22. The stock's fifty day moving average is $81.20 and its 200 day moving average is $84.84. The stock has a market cap of $39.06 billion, a PE ratio of 19.25, a P/E/G 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 Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's payout ratio is 71.19%.

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.