State Street Corp Has $2.37 Billion Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

State Street Corp decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,572,692 shares of the utilities provider's stock after selling 435,912 shares during the quarter. State Street Corp owned 5.33% of Public Service Enterprise Group worth $2,370,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at $33,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at $35,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at $48,000. Finally, Friedenthal Financial purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at $52,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PEG shares. 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 price objective for the company. UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Barclays cut their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets raised their target price 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. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $88.08.

Insider Activity at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares of the company's stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,361 shares of company stock valued at $2,356,562 over the last quarter. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $1.80 on Friday, hitting $89.72. 407,097 shares of the company were exchanged, compared to its average volume of 2,745,005. The company's 50 day moving average price is $89.62 and its two-hundred day moving average price is $81.82. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market capitalization of $44.70 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 3.34 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The business's revenue was up 7.6% compared to the same quarter last year. Research 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.67%. Public Service Enterprise Group's payout ratio is currently 58.97%.

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.