Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 202,870 shares of the utilities provider’s stock after acquiring an additional 20,613 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Public Service Enterprise Group were worth $17,140,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PEG. Axxcess Wealth Management LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth $634,000. Crossmark Global Holdings Inc. boosted its stake in Public Service Enterprise Group by 0.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 26,771 shares of the utilities provider’s stock worth $2,388,000 after purchasing an additional 164 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth $35,000. WCM Investment Management LLC boosted its stake in Public Service Enterprise Group by 133.1% during the 3rd quarter. WCM Investment Management LLC now owns 13,426 shares of the utilities provider’s stock worth $1,185,000 after purchasing an additional 7,667 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group by 9.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 14,713 shares of the utilities provider’s stock worth $1,313,000 after acquiring an additional 1,309 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.3 %

Shares of NYSE:PEG opened at $79.58 on Thursday. Public Service Enterprise Group Incorporated has a 1 year low of $63.31 and a 1 year high of $95.22. The firm has a market capitalization of $39.68 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm’s 50-day moving average is $83.94 and its two-hundred day moving average is $85.98.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.17%. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PEG shares. Bank of America reduced 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. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $89.83.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% 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.