Qtron Investments LLC Sells 4,243 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Qtron Investments LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 40.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,370 shares of the utilities provider's stock after selling 4,243 shares during the quarter. Qtron Investments LLC's holdings in Public Service Enterprise Group were worth $538,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $35,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the 4th quarter worth $39,000. Nemes Rush Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $53,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $54,000. Finally, Financial Life Planners bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $56,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Up 0.4 %

Shares of PEG stock traded up $0.30 on Friday, hitting $83.33. The stock had a trading volume of 2,125,183 shares, compared to its average volume of 2,722,446. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.55 billion, a P/E ratio of 20.47, a PEG ratio of 2.78 and a beta of 0.52. The company has a fifty day moving average price of $81.90 and a two-hundred day moving average price of $85.60. Public Service Enterprise Group Incorporated has a twelve month low of $64.81 and a twelve month high of $95.22.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.02%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

Analyst Upgrades and Downgrades

PEG has been the subject of several recent analyst reports. Wells Fargo & Company decreased 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 report on Wednesday, February 26th. Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Bank of America decreased 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. Morgan Stanley increased their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.35.

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.