UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,454,357 shares of the utilities provider’s stock after selling 157,178 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Public Service Enterprise Group were worth $308,163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Family Firm Inc. purchased a new stake in Public Service Enterprise Group during the second quarter valued at $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the second quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $48,000. Finally, Country Trust Bank bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $52,000. 73.34% of the stock is owned by institutional investors.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The trade was a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,739 shares of company stock worth $2,467,753. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 0.1 %

Shares of NYSE PEG opened at $94.31 on Friday. The stock has a 50 day moving average price of $89.31 and a 200 day moving average price of $81.33. The firm has a market capitalization of $46.99 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week 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.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEG. Bank of America lifted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Barclays lowered their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $86.69.

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.