Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 31.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,074 shares of the utilities provider’s stock after selling 2,735 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Public Service Enterprise Group were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Rockline Wealth Management LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $1,185,000. Allspring Global Investments Holdings LLC grew its position in Public Service Enterprise Group by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after purchasing an additional 17,838 shares during the period. Jennison Associates LLC boosted its stake in shares of Public Service Enterprise Group by 79.9% during the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after acquiring an additional 397,606 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Public Service Enterprise Group by 5,613.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after acquiring an additional 169,425 shares in the last quarter. Finally, PATRIZIA Pty Ltd purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $5,158,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the 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 transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares in the company, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,948 shares of company stock worth $511,814. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 0.4 %

NYSE:PEG traded down $0.27 during trading hours on Friday, hitting $67.82. The company had a trading volume of 2,973,057 shares, compared to its average volume of 2,445,853. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The company has a 50-day moving average of $64.64 and a 200 day moving average of $62.28. The company has a market cap of $33.81 billion, a P/E ratio of 13.22, a P/E/G ratio of 2.98 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $68.39.

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

Public Service Enterprise Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Royal Bank of Canada increased their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Barclays increased their target price on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Finally, 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 research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

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.