Itau Unibanco Holding S.A. Lowers Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Itau Unibanco Holding S.A. trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,884 shares of the utilities provider's stock after selling 5,522 shares during the period. Itau Unibanco Holding S.A.'s holdings in Public Service Enterprise Group were worth $1,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PEG. Foundations Investment Advisors LLC raised its stake in shares of Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after purchasing an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. boosted its holdings in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock valued at $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new position in shares of Public Service Enterprise Group during the third quarter worth $2,860,000. Parsons Capital Management Inc. RI acquired a new position in Public Service Enterprise Group during the fourth quarter valued at $2,565,000. Finally, Czech National Bank grew its position in Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock worth $9,127,000 after purchasing an additional 6,545 shares during the period. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded up $1.47 during mid-day trading on Tuesday, reaching $79.82. The stock had a trading volume of 1,144,101 shares, compared to its average volume of 2,712,620. The company has a market cap of $39.83 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $70.28 and a 12-month high of $95.22. The business has a 50-day simple moving average of $81.11 and a 200 day simple moving average of $84.76.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during 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 company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 EPS. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of analyst reports. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. StockNews.com cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. Finally, Evercore ISI decreased their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $88.81.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the 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 transaction, the chief executive officer now owns 221,093 shares of the company's stock, valued at $17,523,831.18. This represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.19% of the company's stock.

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.