Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Bank OZK

Bank OZK cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 18,764 shares of the utilities provider’s stock after selling 515 shares during the period. Bank OZK’s holdings in Public Service Enterprise Group were worth $1,147,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PEG. IFP Advisors Inc increased its position in shares of Public Service Enterprise Group by 16.9% during the third quarter. IFP Advisors Inc now owns 1,657 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 239 shares in the last quarter. Czech National Bank increased its position in shares of Public Service Enterprise Group by 47.7% in the 3rd quarter. Czech National Bank now owns 87,234 shares of the utilities provider’s stock valued at $4,964,000 after acquiring an additional 28,167 shares during the period. My Legacy Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $335,000. Lowe Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $116,000. Finally, Commonwealth Equity Services LLC increased its position in shares of Public Service Enterprise Group by 3.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 276,675 shares of the utilities provider’s stock valued at $15,746,000 after acquiring an additional 8,364 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a report on Monday, January 22nd. Scotiabank lowered their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Barclays upped their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Evercore ISI upped their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded down $0.27 during mid-day trading on Friday, hitting $67.82. 2,973,057 shares of the stock were exchanged, compared to its average volume of 2,445,853. The firm has a fifty day moving average of $64.64 and a 200 day moving average of $62.28. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $68.39. The company has a market cap 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.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue for the quarter was down 17.0% on a year-over-year basis. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors 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 presently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of 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 three months, insiders have sold 7,948 shares of company stock valued at $511,814. 0.57% of the stock is owned by corporate insiders.

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.