Public Service Enterprise Group Inc. (PEG) Shares Sold by OLD National Bancorp IN

Public Service Enterprise Group Inc. (PEG) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 10.1% during the 1st quarter, HoldingsChannel reports. The fund owned 7,849 shares of the utilities provider’s stock after selling 884 shares during the period. OLD National Bancorp IN’s holdings in Public Service Enterprise Group were worth $467,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PEG. Rench Wealth Management Inc. lifted its position in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Rench Wealth Management Inc. now owns 47,960 shares of the utilities provider’s stock worth $2,496,000 after buying an additional 182 shares in the last quarter. Cetera Investment Advisers raised its position in Public Service Enterprise Group by 2.7% during the fourth quarter. Cetera Investment Advisers now owns 7,593 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 200 shares during the period. Louisiana State Employees Retirement System raised its position in Public Service Enterprise Group by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the utilities provider’s stock valued at $1,586,000 after purchasing an additional 200 shares during the period. Brookstone Capital Management raised its position in Public Service Enterprise Group by 1.3% during the first quarter. Brookstone Capital Management now owns 16,211 shares of the utilities provider’s stock valued at $963,000 after purchasing an additional 202 shares during the period. Finally, Parallel Advisors LLC raised its position in Public Service Enterprise Group by 7.7% during the fourth quarter. Parallel Advisors LLC now owns 3,207 shares of the utilities provider’s stock valued at $166,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 68.69% of the company’s stock.

In related news, Chairman Ralph Izzo sold 52,406 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $59.12, for a total value of $3,098,242.72. Following the transaction, the chairman now owns 443,232 shares of the company’s stock, valued at $26,203,875.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 13,535 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $60.04, for a total value of $812,641.40. Following the completion of the transaction, the executive vice president now directly owns 49,909 shares in the company, valued at approximately $2,996,536.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,054 shares of company stock worth $10,620,958. Insiders own 0.51% of the company’s stock.

A number of equities research analysts have issued reports on PEG shares. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price objective on the stock in a research report on Thursday, January 17th. ValuEngine downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 19th. Wolfe Research upgraded Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 22nd. Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, Deutsche Bank downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective on the stock. in a research report on Thursday, February 28th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $59.73.

PEG opened at $59.14 on Thursday. The company has a market cap of $30.31 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 3.04 and a beta of 0.40. Public Service Enterprise Group Inc. has a one year low of $49.22 and a one year high of $60.36. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Thursday, May 2nd. The utilities provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. During the same quarter in the prior year, the firm posted $0.97 earnings per share. As a group, equities research analysts predict that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.47 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.18%. Public Service Enterprise Group’s dividend payout ratio is 60.26%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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