Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 49.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,407 shares of the utilities provider's stock after selling 145,808 shares during the period. Clearbridge Investments LLC's holdings in Public Service Enterprise Group were worth $12,539,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PEG. Foundations Investment Advisors LLC increased its holdings in Public Service Enterprise Group by 27.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock worth $7,403,000 after buying an additional 18,627 shares during the period. Cullen Investment Group LTD. boosted its holdings in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock valued at $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at $2,860,000. Parsons Capital Management Inc. RI purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth $2,565,000. Finally, Czech National Bank lifted its position in Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider's stock valued at $9,127,000 after purchasing an additional 6,545 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

PEG stock traded down $0.70 during trading on Monday, hitting $77.03. The stock had a trading volume of 4,481,393 shares, compared to its average volume of 2,696,607. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The company's 50-day moving average price is $82.24 and its two-hundred day moving average price is $85.99. 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 stock has a market capitalization of $38.40 billion, a P/E ratio of 18.93, a PEG ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business's revenue was down 5.4% on a year-over-year basis. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is 71.19%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Scotiabank increased their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research report on Thursday, December 12th. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Friday, March 14th. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. Finally, Bank of America decreased their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $89.65.

About Public Service Enterprise Group

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.