Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 182,257 shares of the utilities provider's stock after selling 7,876 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Public Service Enterprise Group were worth $16,259,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Tidal Investments LLC boosted its holdings in shares of Public Service Enterprise Group by 14.5% in the 1st quarter. Tidal Investments LLC now owns 22,598 shares of the utilities provider's stock worth $1,509,000 after purchasing an additional 2,866 shares during the period. Atria Investments Inc raised its holdings in shares of Public Service Enterprise Group by 0.7% in the first quarter. Atria Investments Inc now owns 38,320 shares of the utilities provider's stock worth $2,559,000 after buying an additional 253 shares during the period. Cetera Investment Advisers boosted its holdings in Public Service Enterprise Group by 155.6% during the 1st quarter. Cetera Investment Advisers now owns 120,880 shares of the utilities provider's stock valued at $8,072,000 after acquiring an additional 73,585 shares during the period. Cetera Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 66.0% during the first quarter. Cetera Advisors LLC now owns 23,614 shares of the utilities provider's stock valued at $1,577,000 after purchasing an additional 9,388 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Public Service Enterprise Group by 4.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 114,989 shares of the utilities provider's stock valued at $7,639,000 after buying an additional 4,505 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $0.10 during mid-day trading on Friday, reaching $94.30. The stock had a trading volume of 1,190,071 shares, compared to its average volume of 2,550,619. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The firm has a market cap of $46.98 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61. 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 business's fifty day moving average is $89.31 and its 200-day moving average is $81.39.

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, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. On average, research 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.55%. Public Service Enterprise Group's payout ratio is currently 58.97%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,739 shares of company stock valued at $2,467,753 in the last quarter. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI upped their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Barclays dropped their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a "hold" rating and a $85.00 target price for the company. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus price target of $86.69.

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.