Banco Bilbao Vizcaya Argentaria S.A. Trims Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Banco Bilbao Vizcaya Argentaria S.A. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 32.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,686 shares of the utilities provider's stock after selling 5,569 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Public Service Enterprise Group were worth $987,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PEG shares. Morgan Stanley lifted their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. 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 research report on Wednesday, March 19th. Guggenheim dropped their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday. Bank of America decreased their price objective on shares of 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. Finally, StockNews.com upgraded 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 issued a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average target price of $88.81.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the transaction, the chief executive officer now owns 221,670 shares of the company's stock, valued at $18,372,009.60. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 1.7 %

Shares of NYSE PEG traded down $1.32 during midday trading on Thursday, hitting $78.61. 4,684,493 shares of the company's stock were exchanged, compared to its average volume of 2,727,935. The firm's fifty day simple moving average is $81.39 and its 200-day simple moving average is $85.05. The company has a market cap of $39.19 billion, a PE ratio of 19.31, a P/E/G ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a twelve month low of $68.29 and a twelve month 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.

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, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the company earned $1.31 earnings per share. The firm'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 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's payout ratio is 71.19%.

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.