Livforsakringsbolaget Skandia Omsesidigt Sells 9,800 Shares of Public Service Enterprise Group Inc. (PEG)

Livforsakringsbolaget Skandia Omsesidigt decreased its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 7.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 126,270 shares of the utilities provider’s stock after selling 9,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Public Service Enterprise Group were worth $6,502,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its position in Public Service Enterprise Group by 209.4% during the third quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,539 shares in the last quarter. IHT Wealth Management LLC increased its position in Public Service Enterprise Group by 45.9% during the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after buying an additional 202 shares in the last quarter. YorkBridge Wealth Partners LLC increased its position in Public Service Enterprise Group by 13.8% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,489 shares of the utilities provider’s stock worth $149,000 after buying an additional 424 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in Public Service Enterprise Group during the third quarter worth $185,000. Finally, Evercore Wealth Management LLC increased its position in Public Service Enterprise Group by 5.0% during the second quarter. Evercore Wealth Management LLC now owns 4,323 shares of the utilities provider’s stock worth $186,000 after buying an additional 205 shares in the last quarter. 66.68% of the stock is owned by institutional investors.

In related news, Chairman Ralph Izzo sold 6,427 shares of Public Service Enterprise Group stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $49.45, for a total value of $317,815.15. Following the transaction, the chairman now owns 708,728 shares in the company, valued at $35,046,599.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction on Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. Insiders sold 144,071 shares of company stock worth $7,275,472 in the last quarter. 0.61% of the stock is owned by insiders.

PEG has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on Public Service Enterprise Group from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Wells Fargo & Co raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Argus raised their price objective on Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Royal Bank of Canada restated a “hold” rating and set a $47.00 price objective on shares of Public Service Enterprise Group in a report on Tuesday, October 10th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $51.32.

Shares of Public Service Enterprise Group Inc. (NYSE PEG) opened at $50.27 on Thursday. Public Service Enterprise Group Inc. has a fifty-two week low of $41.67 and a fifty-two week high of $53.28. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $25,074.22, a price-to-earnings ratio of 48.81, a PEG ratio of 6.05 and a beta of 0.41.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business earned $0.88 EPS. Public Service Enterprise Group’s revenue for the quarter was down 7.6% compared to the same quarter last year. research analysts expect that Public Service Enterprise Group Inc. will post 2.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 166.99%.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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