Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Position Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 31.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,693 shares of the utilities provider’s stock after selling 9,729 shares during the period. Thrivent Financial for Lutherans’ holdings in Public Service Enterprise Group were worth $1,296,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bank of Nova Scotia grew its position in Public Service Enterprise Group by 109.6% in the 2nd quarter. Bank of Nova Scotia now owns 280,978 shares of the utilities provider’s stock worth $16,787,000 after purchasing an additional 146,909 shares during the last quarter. OLD Republic International Corp grew its position in Public Service Enterprise Group by 82.4% in the 2nd quarter. OLD Republic International Corp now owns 1,217,500 shares of the utilities provider’s stock worth $72,733,000 after purchasing an additional 550,000 shares during the last quarter. Deutsche Bank AG grew its position in Public Service Enterprise Group by 12.7% in the 2nd quarter. Deutsche Bank AG now owns 1,706,544 shares of the utilities provider’s stock worth $101,948,000 after purchasing an additional 192,893 shares during the last quarter. Great Lakes Advisors LLC grew its position in Public Service Enterprise Group by 7.2% in the 2nd quarter. Great Lakes Advisors LLC now owns 1,045,164 shares of the utilities provider’s stock worth $62,438,000 after purchasing an additional 70,236 shares during the last quarter. Finally, ARGI Investment Services LLC bought a new position in Public Service Enterprise Group in the 2nd quarter worth about $3,309,000. 69.75% of the stock is owned by institutional investors and hedge funds.

In related news, VP Rose M. Chernick sold 400 shares of the firm’s stock in a transaction on Friday, September 17th. The shares were sold at an average price of $62.95, for a total value of $25,180.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Ralph A. Larossa sold 4,890 shares of the firm’s stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $64.60, for a total transaction of $315,894.00. Following the completion of the transaction, the chief operating officer now owns 75,533 shares in the company, valued at $4,879,431.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,863 shares of company stock valued at $1,304,052. 0.52% of the stock is owned by insiders.

PEG stock opened at $64.59 on Thursday. Public Service Enterprise Group Incorporated has a 12 month low of $53.77 and a 12 month high of $65.33. The firm has a market cap of $32.66 billion, a PE ratio of -48.93, a P/E/G ratio of 4.89 and a beta of 0.56. The firm has a 50 day simple moving average of $62.26 and a 200 day simple moving average of $62.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.84 and a quick ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, November 2nd. The utilities provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. Public Service Enterprise Group had a negative net margin of 7.30% and a positive return on equity of 11.77%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business earned $0.96 earnings per share. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.6 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Thursday, December 9th will be given a $0.51 dividend. The ex-dividend date of this dividend is Wednesday, December 8th. This represents a $2.04 annualized dividend and a dividend yield of 3.16%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently -154.55%.

PEG has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $74.00 to $73.00 and set an “overweight” rating for the company in a research report on Friday, September 17th. Barclays upped their target price on shares of Public Service Enterprise Group from $67.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 6th. Vertical Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $67.00 to $69.00 in a research report on Wednesday, September 29th. KeyCorp increased their price objective on shares of Public Service Enterprise Group from $68.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, October 19th. Finally, Mizuho increased their price objective on shares of Public Service Enterprise Group from $66.00 to $67.00 and gave the company a “buy” rating in a report on Monday, October 11th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Buy” and an average price target of $69.11.

Public Service Enterprise Group Profile

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

Read More: Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG).

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.