American Century Companies Inc. Sells 15,025 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

American Century Companies Inc. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,646 shares of the utilities provider's stock after selling 15,025 shares during the quarter. American Century Companies Inc.'s holdings in Public Service Enterprise Group were worth $13,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PEG. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $35,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $39,000. Stonebridge Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of PEG traded down $3.73 during mid-day trading on Friday, hitting $77.83. The stock had a trading volume of 4,819,758 shares, compared to its average volume of 2,689,468. The company's fifty day simple moving average is $82.34 and its two-hundred day simple moving average is $86.04. 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 Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. The company has a market cap of $38.80 billion, a PE ratio of 19.12, a PEG ratio of 2.78 and a beta of 0.52.

Remove Ads

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company's revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.24%. Public Service Enterprise Group's payout ratio is presently 71.19%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays downgraded shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a report on Thursday, December 12th. 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 target on the stock. in a research report on Wednesday, March 19th. Bank of America decreased their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, Guggenheim reiterated a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $89.65.

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.