Public Employees Retirement System of Ohio Decreases Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Public Employees Retirement System of Ohio lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,988 shares of the utilities provider's stock after selling 7,032 shares during the period. Public Employees Retirement System of Ohio's holdings in Public Service Enterprise Group were worth $16,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of PEG. RFG Advisory LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at about $270,000. Dynamic Advisor Solutions LLC grew its holdings in shares of Public Service Enterprise Group by 18.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,149 shares of the utilities provider's stock valued at $380,000 after purchasing an additional 812 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Public Service Enterprise Group by 74.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 19,271 shares of the utilities provider's stock worth $1,420,000 after purchasing an additional 8,203 shares in the last quarter. Wedmont Private Capital bought a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $401,000. Finally, M&G Plc acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $1,871,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now owns 48,397 shares of the company's stock, valued at $4,385,252.17. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,798 shares of company stock worth $1,595,921 in the last three months. Company insiders own 0.18% of the company's stock.

Public Service Enterprise Group Trading Down 0.9 %

Shares of Public Service Enterprise Group stock traded down $0.82 on Wednesday, hitting $85.56. 3,585,551 shares of the company's stock traded hands, compared to its average volume of 2,753,805. The company has a market capitalization of $42.63 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 3.30 and a beta of 0.62. The company has a fifty day moving average of $89.54 and a two-hundred day moving average of $82.21. 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 Incorporated has a one year low of $56.85 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 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 last year, the firm posted $0.85 EPS. The company's quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.81%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 58.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PEG shares. Bank of America raised their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, August 29th. UBS Group upped their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on shares of 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. Barclays decreased their price target on shares of 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. Finally, Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.08.

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.