Diversified Trust Co Trims Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Diversified Trust Co decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 81.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,744 shares of the utilities provider's stock after selling 20,693 shares during the quarter. Diversified Trust Co's holdings in Public Service Enterprise Group were worth $401,000 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. Geode Capital Management LLC increased its position in Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock worth $1,051,744,000 after buying an additional 49,285 shares in the last quarter. FMR LLC increased its position in Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after buying an additional 877,345 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider's stock worth $263,315,000 after purchasing an additional 19,650 shares in the last quarter. Raymond James & Associates grew its position in shares of Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock worth $255,954,000 after purchasing an additional 663,012 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Public Service Enterprise Group by 5.9% during the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider's stock worth $235,194,000 after purchasing an additional 147,903 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Activity

In related news, SVP Richard T. Thigpen sold 5,900 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares of the company's stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock valued at $722,037 in the last ninety days. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Trading Down 1.2 %

Shares of NYSE:PEG traded down $1.00 during trading on Friday, hitting $84.28. The company had a trading volume of 2,524,879 shares, compared to its average volume of 2,036,363. The stock has a market cap of $41.99 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22. The company has a fifty day simple moving average of $87.44 and a two-hundred day simple moving average of $84.05. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.85 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group's payout ratio is 58.97%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEG. Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Scotiabank increased their target price 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. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $89.17.

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.