Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 63.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,856 shares of the utilities provider's stock after selling 79,108 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Public Service Enterprise Group were worth $3,790,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the third quarter valued at $48,000. Legacy Investment Solutions LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $59,000. Fortitude Family Office LLC lifted its holdings in Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider's stock worth $71,000 after buying an additional 611 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in shares of Public Service Enterprise Group by 67.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,119 shares of the utilities provider's stock worth $95,000 after acquiring an additional 451 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

PEG stock traded down $0.18 during trading on Thursday, hitting $83.93. The company had a trading volume of 1,607,842 shares, compared to its average volume of 2,259,848. The firm has a 50-day moving average price of $86.35 and a 200-day moving average price of $85.36. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.81 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 1-year low of $57.40 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts expect 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 was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.86%. Public Service Enterprise Group's dividend payout ratio is currently 58.97%.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 956 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company's stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares of the company's stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,612 shares of company stock worth $836,549. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEG. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays cut 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. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Scotiabank lifted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research note on Thursday, December 12th. Finally, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average price target of $88.83.

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.