Nordea Investment Management AB Sells 81,927 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Nordea Investment Management AB decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,426,027 shares of the utilities provider's stock after selling 81,927 shares during the quarter. Nordea Investment Management AB owned about 0.29% of Public Service Enterprise Group worth $120,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth about $48,000. Legacy Investment Solutions LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth about $59,000. Fortitude Family Office LLC lifted its position in Public Service Enterprise Group by 325.0% in the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider's stock valued at $71,000 after acquiring an additional 611 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter valued at about $66,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares of the company's stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,798 shares of company stock worth $1,588,631. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $0.30 during mid-day trading on Tuesday, reaching $85.40. The company had a trading volume of 1,439,825 shares, compared to its average volume of 1,879,681. The company's 50-day moving average price is $87.65 and its 200-day moving average price is $83.82. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22. The firm has a market cap of $42.55 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 3.18 and a beta of 0.65. The company has a current ratio of 0.68, a quick ratio of 0.48 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 Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 58.97%.

Analyst Ratings Changes

PEG has been the subject of several analyst reports. Morgan Stanley increased their price objective on 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. Evercore ISI increased their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Barclays reduced their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Finally, Guggenheim restated a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $89.17.

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.