Ralph Izzo Sells 39,960 Shares of Public Service Enterprise Group Incorporated (PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) Chairman Ralph Izzo sold 39,960 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $49.20, for a total value of $1,966,032.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ralph Izzo also recently made the following trade(s):

  • On Thursday, October 12th, Ralph Izzo sold 79,920 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $48.83, for a total value of $3,902,493.60.
  • On Monday, October 2nd, Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $46.50, for a total value of $968,734.50.
  • On Tuesday, August 1st, Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $45.23, for a total value of $1,058,382.00.

Public Service Enterprise Group Incorporated (NYSE:PEG) traded down 0.08% on Monday, reaching $48.60. The company’s stock had a trading volume of 2,683,698 shares. The firm’s 50 day moving average is $46.65 and its 200-day moving average is $44.95. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $49.33. The firm has a market cap of $24.59 billion, a P/E ratio of 54.61 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.54%. Public Service Enterprise Group’s payout ratio is presently 193.26%.

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PEG has been the topic of several recent analyst reports. J P Morgan Chase & Co boosted their target price on Public Service Enterprise Group from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday. Jefferies Group LLC reissued a “hold” rating and issued a $46.50 target price on shares of Public Service Enterprise Group in a report on Thursday. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, October 10th. Royal Bank Of Canada reissued a “hold” rating and issued a $47.00 target price on shares of Public Service Enterprise Group in a report on Tuesday, October 10th. Finally, Evercore ISI raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $46.75 to $50.00 in a report on Monday, September 25th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $49.79.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in shares of Public Service Enterprise Group by 4,031.7% during the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after buying an additional 47,208,334 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Public Service Enterprise Group by 2.4% during the second quarter. Vanguard Group Inc. now owns 35,870,541 shares of the utilities provider’s stock worth $1,542,792,000 after buying an additional 828,458 shares during the last quarter. State Street Corp grew its stake in shares of Public Service Enterprise Group by 1.2% during the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock worth $1,200,831,000 after buying an additional 319,134 shares during the last quarter. Federated Investors Inc. PA grew its stake in shares of Public Service Enterprise Group by 179.9% during the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,000 after buying an additional 4,314,015 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Public Service Enterprise Group by 3.4% during the first quarter. Geode Capital Management LLC now owns 5,441,323 shares of the utilities provider’s stock worth $241,006,000 after buying an additional 178,078 shares during the last quarter. 65.85% of the stock is currently owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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