Leisure Capital Management Sells 2,534 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Leisure Capital Management lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,479 shares of the utilities provider’s stock after selling 2,534 shares during the period. Leisure Capital Management’s holdings in Public Service Enterprise Group were worth $947,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in 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 shares of Public Service Enterprise Group during the fourth quarter worth $31,000. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $356,000. Bryn Mawr Capital Management LLC increased its position in shares of 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 in the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $449,000. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were 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 in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were 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 in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now 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. In the last 90 days, insiders sold 7,948 shares of company stock worth $511,814. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Morgan Stanley reissued an “overweight” rating and set a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Bank of America increased their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company increased their price objective on shares of 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. Finally, Scotiabank reduced their target price on shares of 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. One equities 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.15.

Public Service Enterprise Group Stock Performance

PEG stock traded down $0.27 during trading hours on Friday, reaching $67.82. The stock had a trading volume of 2,973,057 shares, compared to its average volume of 2,445,853. The stock has a market capitalization of $33.81 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.98 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a 50-day simple moving average of $64.64 and a 200 day simple moving average of $62.28. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $68.39.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

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.