Ethic Inc. Has $1.39 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ethic Inc. trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 52.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,421 shares of the utilities provider's stock after selling 18,174 shares during the quarter. Ethic Inc.'s holdings in Public Service Enterprise Group were worth $1,387,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group in the 4th quarter valued at $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the fourth quarter worth $39,000. Finally, Optiver Holding B.V. acquired a new position in Public Service Enterprise Group in the fourth quarter worth $50,000. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America reduced their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company lowered their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Evercore ISI reduced their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, StockNews.com lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of "Hold" and an average target price of $88.81.

Public Service Enterprise Group Trading Up 1.1%

PEG stock traded up $0.89 during midday trading on Friday, hitting $79.33. 3,990,107 shares of the company's stock were exchanged, compared to its average volume of 2,729,559. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market cap of $39.58 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The stock's fifty day moving average price is $80.86 and its 200-day moving average price is $84.21.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the business posted $1.31 EPS. Public Service Enterprise Group's revenue for the quarter was up 16.7% on a year-over-year basis. Research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. Public Service Enterprise Group's payout ratio is 68.85%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business'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 transaction, the chief executive officer now directly owns 221,093 shares in the company, valued at $17,523,831.18. The trade was a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company's stock.

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.