Insider Selling: Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Sells 1,378 Shares of Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Public Service Enterprise Group Stock Up 1.4 %

NYSE:PEG opened at $86.25 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The stock’s fifty day simple moving average is $87.80 and its 200-day simple moving average is $83.50. The firm has a market capitalization of $42.97 billion, a P/E ratio of 21.19, a P/E/G ratio of 3.18 and a beta of 0.65.

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

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.78%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group during the third quarter worth about $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at about $48,000. Rothschild Investment LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $58,000. Legacy Investment Solutions LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $59,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. Barclays lowered their price target on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group upped their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.17.

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.