Swiss National Bank Lowers Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Swiss National Bank reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 1,407,300 shares of the utilities provider’s stock after selling 71,300 shares during the period. Swiss National Bank’s holdings in Public Service Enterprise Group were worth $118,903,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Apollon Wealth Management LLC grew its stake in Public Service Enterprise Group by 9.8% in 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. Empower Advisory Group LLC grew its stake in shares of Public Service Enterprise Group by 16.7% during the 3rd quarter. Empower Advisory Group LLC now owns 5,533 shares of the utilities provider’s stock valued at $494,000 after buying an additional 792 shares during the period. Pinnacle Financial Partners Inc purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $269,000. Huntington National Bank grew its stake in shares of Public Service Enterprise Group by 5.7% during the 3rd quarter. Huntington National Bank now owns 32,453 shares of the utilities provider’s stock valued at $2,895,000 after buying an additional 1,761 shares during the period. Finally, KBC Group NV grew its stake in shares of Public Service Enterprise Group by 162.3% during the 3rd quarter. KBC Group NV now owns 102,735 shares of the utilities provider’s stock valued at $9,165,000 after buying an additional 63,565 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $81.59 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $63.31 and a 52 week high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a market cap of $40.68 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a 50-day moving average price of $83.74 and a two-hundred day moving average price of $85.95.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PEG shares. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. BMO Capital Markets lifted their target price 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. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Bank of America cut 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. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.83.

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.