Hsbc Holdings PLC Sells 441,088 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Hsbc Holdings PLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,459,047 shares of the utilities provider's stock after selling 441,088 shares during the period. Hsbc Holdings PLC owned approximately 0.29% of Public Service Enterprise Group worth $123,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Foundations Investment Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 27.0% during 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 in the last quarter. Cullen Investment Group LTD. grew its position in Public Service Enterprise Group by 65.3% in the fourth 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 acquired a new position in Public Service Enterprise Group during the third quarter worth about $2,860,000. Parsons Capital Management Inc. RI bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $2,565,000. Finally, Czech National Bank boosted its stake in shares of Public Service Enterprise Group by 6.4% in the 4th 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 in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Guggenheim restated a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Bank of America dropped their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, Barclays cut their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average price target of $89.35.

Public Service Enterprise Group Trading Up 2.2 %

PEG opened at $81.99 on Wednesday. Public Service Enterprise Group Incorporated has a twelve month low of $65.36 and a twelve month high of $95.22. The company has a fifty day moving average of $81.78 and a 200-day moving average of $85.36. The stock has a market cap of $40.88 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

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 for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business's revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group 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.

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