LSV Asset Management Sells 35,700 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

LSV Asset Management lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 22.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 124,800 shares of the utilities provider's stock after selling 35,700 shares during the period. LSV Asset Management's holdings in Public Service Enterprise Group were worth $7,632,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Rockline Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $1,185,000. Allspring Global Investments Holdings LLC lifted its holdings in Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider's stock valued at $25,397,000 after buying an additional 17,838 shares during the period. Jennison Associates LLC boosted its position in Public Service Enterprise Group by 79.9% during the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider's stock valued at $54,757,000 after acquiring an additional 397,606 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Public Service Enterprise Group by 5,613.8% in the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider's stock worth $10,545,000 after acquiring an additional 169,425 shares in the last quarter. Finally, PATRIZIA Pty Ltd acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $5,158,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company's stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares of the company's stock, valued at approximately $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders have sold 9,322 shares of company stock worth $607,376 over the last ninety days. Insiders own 0.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BMO Capital Markets cut their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating on the stock in a report on Tuesday, February 27th. Morgan Stanley reaffirmed an "overweight" rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Wells Fargo & Company raised their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, March 19th. Guggenheim downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 price target for the company. in a research report on Monday, January 22nd. Finally, Bank of America lifted their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a "buy" rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average target price of $67.15.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $1.04 during mid-day trading on Thursday, hitting $73.60. 2,217,215 shares of the company traded hands, compared to its average volume of 2,900,455. The stock has a fifty day moving average price of $66.20 and a 200-day moving average price of $62.87. The stock has a market cap of $36.66 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $73.65. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The firm's revenue was down 26.5% on a year-over-year basis. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group's dividend payout ratio is currently 66.48%.

Public Service Enterprise Group 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.