Bank OZK Sells 515 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Bank OZK lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,764 shares of the utilities provider’s stock after selling 515 shares during the quarter. Bank OZK’s holdings in Public Service Enterprise Group were worth $1,147,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in shares of Public Service Enterprise Group by 9.3% in the fourth quarter. Russell Investments Group Ltd. now owns 240,096 shares of the utilities provider’s stock valued at $14,681,000 after purchasing an additional 20,434 shares in the last quarter. Addison Advisors LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth $31,000. Gilliland Jeter Wealth Management LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth $356,000. Bryn Mawr Capital Management LLC lifted its holdings in Public Service Enterprise Group by 44.3% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 25,527 shares of the utilities provider’s stock worth $1,561,000 after acquiring an additional 7,837 shares during the period. Finally, Stevens Capital Management LP bought a new stake in Public Service Enterprise Group during the fourth quarter worth $449,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Insiders sold a total of 7,948 shares of company stock worth $511,814 over the last ninety days. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $0.27 during mid-day trading on Friday, hitting $67.82. The company had a trading volume of 2,973,057 shares, compared to its average volume of 2,445,853. The company has a market capitalization of $33.81 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 2.98 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $68.39. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The stock’s 50-day moving average price is $64.64 and its 200-day moving average price is $62.28.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down 17.0% compared to the same quarter last year. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 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 Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is 46.78%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEG. Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a report on Monday, January 22nd. TheStreet upgraded Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, Wells Fargo & Company raised their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $67.15.

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.