B. Metzler seel. Sohn & Co. Holding AG Takes $2.26 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 25,314 shares of the utilities provider's stock, valued at approximately $2,258,000.

A number of other large investors have also made changes to their positions in PEG. Banque Cantonale Vaudoise increased its stake in Public Service Enterprise Group by 11.2% in the third quarter. Banque Cantonale Vaudoise now owns 80,901 shares of the utilities provider's stock valued at $7,217,000 after acquiring an additional 8,171 shares during the period. OneAscent Financial Services LLC bought a new stake in Public Service Enterprise Group in the third quarter valued at about $293,000. New England Asset Management Inc. increased its stake in Public Service Enterprise Group by 3.0% in the third quarter. New England Asset Management Inc. now owns 90,118 shares of the utilities provider's stock valued at $8,039,000 after acquiring an additional 2,605 shares during the period. OneAscent Wealth Management LLC bought a new stake in Public Service Enterprise Group in the third quarter valued at about $280,000. Finally, Capital City Trust Co. FL increased its stake in Public Service Enterprise Group by 0.9% in the third quarter. Capital City Trust Co. FL now owns 47,221 shares of the utilities provider's stock valued at $4,213,000 after acquiring an additional 419 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This trade represents a 0.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares of the company's stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,739 shares of company stock valued at $2,467,753 over the last quarter. Corporate insiders own 0.57% of the company's stock.

Public Service Enterprise Group Trading Up 0.0 %

PEG traded up $0.04 during mid-day trading on Friday, hitting $92.39. The stock had a trading volume of 1,784,914 shares, compared to its average volume of 2,764,073. The stock's fifty day simple moving average is $88.38 and its 200-day simple moving average is $80.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market capitalization of $46.03 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 3.31 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $93.00.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio is 58.97%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PEG shares. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Bank of America upped their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Finally, Barclays decreased their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.69.

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.