Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,149,592 shares of the utilities provider's stock after selling 38,964 shares during the quarter. Thrivent Financial for Lutherans owned 0.23% of Public Service Enterprise Group worth $97,130,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $35,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $56,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $57,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEG. Scotiabank upped their price target 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. Guggenheim restated a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday. Barclays lowered 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. Finally, Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.65.

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Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Stock Performance

PEG traded down $0.30 during trading hours on Friday, hitting $83.00. 5,339,712 shares of the stock were exchanged, compared to its average volume of 2,548,848. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The stock has a 50-day simple moving average of $83.50 and a 200-day simple moving average of $86.06. 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 12 month low of $64.03 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping 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 firm posted $0.54 EPS. The company's revenue for the quarter was down 5.4% on a year-over-year basis. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. Public Service Enterprise Group's dividend payout ratio is 71.19%.

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.