First PREMIER Bank Sells 1,806 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

First PREMIER Bank lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,247 shares of the utilities provider’s stock after selling 1,806 shares during the period. Public Service Enterprise Group makes up approximately 1.2% of First PREMIER Bank’s investment portfolio, making the stock its 24th biggest position. First PREMIER Bank’s holdings in Public Service Enterprise Group were worth $4,836,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Heritage Wealth Management Inc. purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $422,000. DRW Securities LLC purchased a new position in Public Service Enterprise Group during the third quarter worth $8,244,000. Cullen Investment Group LTD. increased its position in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division bought a new position in Public Service Enterprise Group during the third quarter valued at $2,860,000. Finally, Cerity Partners LLC raised its stake in shares of Public Service Enterprise Group by 36.1% in the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock valued at $8,575,000 after acquiring an additional 25,503 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG stock opened at $88.22 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The business has a 50-day moving average price of $87.78 and a 200 day moving average price of $84.72. The company has a market capitalization of $43.96 billion, a P/E ratio of 21.68, a PEG ratio of 2.89 and a beta of 0.65.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group lifted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. BMO Capital Markets increased their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Evercore ISI boosted their price objective on 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, Barclays cut their price objective 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.17.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was 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 directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,234 shares of company stock valued at $722,037. Corporate insiders own 0.57% of the company’s stock.

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.