Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 1.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 193,903 shares of the utilities provider’s stock after selling 3,594 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Public Service Enterprise Group were worth $10,236,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. American Research & Management Co. bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $108,000. NuWave Investment Management LLC bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $118,000. Psagot Investment House Ltd. bought a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $129,000. Squar Milner Financial Services LLC bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $149,000. Finally, Reilly Financial Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 49.2% in the third quarter. Reilly Financial Advisors LLC now owns 3,031 shares of the utilities provider’s stock valued at $160,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 67.35% of the company’s stock.

Shares of NYSE:PEG opened at $53.58 on Wednesday. The company has a market cap of $27.58 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 2.62 and a beta of 0.28. Public Service Enterprise Group Inc. has a 1-year low of $46.19 and a 1-year high of $56.68. The company has a quick ratio of 0.51, a current ratio of 0.72 and a debt-to-equity ratio of 0.90.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.04. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Public Service Enterprise Group had a net margin of 23.54% and a return on equity of 11.24%. During the same period last year, the firm posted $0.82 earnings per share. As a group, sell-side analysts anticipate that Public Service Enterprise Group Inc. will post 3.1 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.36%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.43%.

PEG has been the subject of a number of research reports. Argus raised their target price on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. Morgan Stanley set a $59.00 target price on shares of Public Service Enterprise Group and gave the stock a “buy” rating in a report on Thursday, October 11th. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. UBS Group upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $60.00 in a report on Wednesday, October 10th. Finally, Citigroup upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Tuesday, October 9th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.46.

In related news, Chairman Ralph Izzo sold 49,829 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $52.60, for a total value of $2,621,005.40. Following the completion of the sale, the chairman now owns 578,910 shares in the company, valued at approximately $30,450,666. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Derek M. Dirisio sold 2,300 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $53.02, for a total transaction of $121,946.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 156,942 shares of company stock valued at $8,272,885. 0.58% of the stock is owned by insiders.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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