OLD Second National Bank of Aurora Sells 546 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

OLD Second National Bank of Aurora reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,898 shares of the utilities provider’s stock after selling 546 shares during the period. OLD Second National Bank of Aurora’s holdings in Public Service Enterprise Group were worth $2,130,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Addison Advisors LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth $31,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth about $36,000. Bruce G. Allen Investments LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $36,000. Salomon & Ludwin LLC grew its holdings in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares during the period. Finally, Anchor Investment Management LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $37,000. 73.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 0.4 %

NYSE PEG traded up $0.31 during trading hours on Friday, hitting $76.84. The company’s stock had a trading volume of 811,441 shares, compared to its average volume of 2,823,015. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $77.46. The company has a market capitalization of $38.27 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 3.17 and a beta of 0.59. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. The company’s 50-day simple moving average is $73.86 and its two-hundred day simple moving average is $66.57.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the business posted $1.39 EPS. Public Service Enterprise Group’s revenue was down 26.5% compared to the same quarter last year. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.12%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PEG. Mizuho increased their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Bank of America increased their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Scotiabank decreased their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Barclays raised their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, BMO Capital Markets raised their target price on Public Service Enterprise Group from $69.00 to $74.00 and gave the company a “market perform” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.17.

Public Service Enterprise Group Company 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.