Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Reduced by Swiss National Bank

Swiss National Bank trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,407,300 shares of the utilities provider's stock after selling 71,300 shares during the period. Swiss National Bank owned 0.28% of Public Service Enterprise Group worth $118,903,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

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Public Service Enterprise Group Stock Up 1.3 %

Public Service Enterprise Group stock traded up $1.04 during midday trading on Wednesday, hitting $83.21. The stock had a trading volume of 3,719,107 shares, compared to its average volume of 2,546,233. 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 has a fifty day moving average price of $83.61 and a 200 day moving average price of $86.04. Public Service Enterprise Group Incorporated has a 12 month low of $63.54 and a 12 month high of $95.22. The stock has a market cap of $41.48 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period last year, the business posted $0.54 earnings per share. The firm's revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Friday, March 14th. Bank of America decreased their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Guggenheim reissued a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Barclays downgraded shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and an average price target of $89.27.

Public Service Enterprise Group Company 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.