Van Lanschot Kempen Investment Management N.V. Sells 84,632 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Van Lanschot Kempen Investment Management N.V. lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 304,610 shares of the utilities provider's stock after selling 84,632 shares during the period. Van Lanschot Kempen Investment Management N.V. owned approximately 0.06% of Public Service Enterprise Group worth $25,736,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Transce3nd LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $35,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $39,000. Nemes Rush Group LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $53,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $54,000. Institutional investors own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PEG shares. Bank of America cut their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company dropped 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 report on Wednesday, February 26th. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Guggenheim restated a "buy" rating and set a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.35.

Public Service Enterprise Group Stock Down 0.9 %

Shares of PEG traded down $0.73 during mid-day trading on Friday, hitting $80.99. 2,886,115 shares of the company's stock were exchanged, compared to its average volume of 2,718,655. 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 twelve month low of $66.57 and a twelve month high of $95.22. The firm has a fifty day moving average of $81.62 and a two-hundred day moving average of $85.21. The stock has a market cap of $40.38 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The business's quarterly revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's payout ratio is 71.19%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares of the company's stock, valued at $18,372,009.60. This represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.19% of the company's stock.

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.