Insider Selling: Public Service Enterprise Group Inc. (NYSE:PEG) Chairman Sells 52,407 Shares of Stock

Public Service Enterprise Group Inc. (NYSE:PEG) Chairman Ralph Izzo sold 52,407 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $57.18, for a total value of $2,996,632.26. Following the sale, the chairman now directly owns 373,588 shares in the company, valued at $21,361,761.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ralph Izzo also recently made the following trade(s):

  • On Monday, July 1st, Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $58.26, for a total value of $3,053,231.82.
  • On Monday, June 3rd, Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $58.78, for a total value of $3,080,483.46.

Shares of NYSE PEG traded down $0.73 during trading hours on Friday, reaching $58.44. The stock had a trading volume of 2,220,655 shares, compared to its average volume of 2,463,027. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. The firm has a market cap of $29.92 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 8.07 and a beta of 0.33. The business’s fifty day moving average price is $58.84 and its two-hundred day moving average price is $58.98. Public Service Enterprise Group Inc. has a 52-week low of $49.22 and a 52-week high of $61.63.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04). The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. During the same quarter in the previous year, the firm posted $0.64 EPS. Equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Friday, September 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.26%.

PEG has been the subject of several recent analyst reports. Barclays initiated coverage on Public Service Enterprise Group in a research report on Tuesday, August 13th. They set an “overweight” rating and a $63.00 target price for the company. ValuEngine lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. KeyCorp initiated coverage on Public Service Enterprise Group in a research report on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 target price for the company. Citigroup lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a research report on Monday, July 29th. Finally, UBS Group set a $67.00 target price on Public Service Enterprise Group and gave the company a “buy” rating in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $62.46.

A number of large investors have recently modified their holdings of PEG. Ceredex Value Advisors LLC bought a new position in Public Service Enterprise Group in the first quarter worth approximately $147,966,000. Nuveen Asset Management LLC raised its stake in Public Service Enterprise Group by 399.5% in the second quarter. Nuveen Asset Management LLC now owns 3,021,234 shares of the utilities provider’s stock worth $177,709,000 after buying an additional 2,416,438 shares in the last quarter. Nordea Investment Management AB raised its stake in Public Service Enterprise Group by 42.7% in the first quarter. Nordea Investment Management AB now owns 6,496,557 shares of the utilities provider’s stock worth $385,966,000 after buying an additional 1,942,914 shares in the last quarter. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 2.8% in the second quarter. Vanguard Group Inc. now owns 41,902,158 shares of the utilities provider’s stock worth $2,464,685,000 after buying an additional 1,129,724 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Public Service Enterprise Group by 16.0% in the first quarter. AQR Capital Management LLC now owns 5,443,816 shares of the utilities provider’s stock worth $321,130,000 after buying an additional 752,831 shares in the last quarter. 68.74% of the stock is owned by institutional investors.

About Public Service Enterprise Group

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; 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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Insider Buying and Selling by Quarter for Public Service Enterprise Group (NYSE:PEG)

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