Public Service Enterprise Group (PEG) Stake Decreased by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in shares of Public Service Enterprise Group (NYSE:PEG) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,249,572 shares of the utilities provider’s stock after selling 220,727 shares during the period. California Public Employees Retirement System owned 0.25% of Public Service Enterprise Group worth $62,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. IFM Investors Pty Ltd raised its holdings in Public Service Enterprise Group by 10.6% in the first quarter. IFM Investors Pty Ltd now owns 15,792 shares of the utilities provider’s stock valued at $793,000 after buying an additional 1,510 shares during the period. Norinchukin Bank The raised its holdings in Public Service Enterprise Group by 15.8% in the first quarter. Norinchukin Bank The now owns 49,652 shares of the utilities provider’s stock valued at $2,495,000 after buying an additional 6,793 shares during the period. Evergreen Capital Management LLC purchased a new position in Public Service Enterprise Group in the first quarter valued at approximately $523,000. Great West Life Assurance Co. Can raised its holdings in Public Service Enterprise Group by 3.5% in the first quarter. Great West Life Assurance Co. Can now owns 861,288 shares of the utilities provider’s stock valued at $43,277,000 after buying an additional 29,236 shares during the period. Finally, First Republic Investment Management Inc. raised its holdings in Public Service Enterprise Group by 16.2% in the first quarter. First Republic Investment Management Inc. now owns 17,191 shares of the utilities provider’s stock valued at $863,000 after buying an additional 2,392 shares during the period. Hedge funds and other institutional investors own 68.55% of the company’s stock.

In other news, CEO Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $52.02, for a total transaction of $1,083,732.66. Following the completion of the sale, the chief executive officer now owns 610,514 shares of the company’s stock, valued at $31,758,938.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 16,400 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $50.36, for a total transaction of $825,904.00. Following the sale, the executive vice president now directly owns 51,604 shares of the company’s stock, valued at approximately $2,598,777.44. The disclosure for this sale can be found here. Insiders have sold 58,066 shares of company stock valued at $2,949,203 in the last three months. Corporate insiders own 0.58% of the company’s stock.

PEG opened at $52.98 on Friday. Public Service Enterprise Group has a 52-week low of $41.67 and a 52-week high of $53.33. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.52 and a current ratio of 0.71. The company has a market cap of $26.59 billion, a PE ratio of 18.08, a PEG ratio of 3.79 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, April 30th. The utilities provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). Public Service Enterprise Group had a return on equity of 11.22% and a net margin of 21.68%. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the business posted $0.92 EPS. equities research analysts predict that Public Service Enterprise Group will post 3.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Thursday, June 7th. Public Service Enterprise Group’s payout ratio is currently 61.43%.

Several research analysts recently commented on the stock. Wells Fargo & Co restated an “outperform” rating and issued a $56.00 price target (down previously from $59.00) on shares of Public Service Enterprise Group in a report on Monday, February 26th. Guggenheim restated a “buy” rating and issued a $56.00 price target on shares of Public Service Enterprise Group in a report on Friday, February 23rd. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, February 19th. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 13th. Finally, Mizuho lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.46.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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