Public Service Enterprise Group Incorporated (PEG) Chairman Ralph Izzo Sells 20,833 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $52.90, for a total value of $1,102,065.70. Following the completion of the transaction, the chairman now directly owns 687,600 shares in the company, valued at approximately $36,374,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Wednesday, November 1st, Ralph Izzo sold 60,793 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $49.70, for a total value of $3,021,412.10.
  • On Thursday, October 26th, Ralph Izzo sold 6,427 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $49.45, for a total value of $317,815.15.
  • On Friday, October 13th, Ralph Izzo sold 39,960 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $49.20, for a total value of $1,966,032.00.
  • 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.

Shares of Public Service Enterprise Group Incorporated (PEG) opened at $52.89 on Tuesday. The company has a market capitalization of $26,855.48, a PE ratio of 18.30, a PEG ratio of 6.63 and a beta of 0.41. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group Incorporated has a 1 year low of $40.72 and a 1 year high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. research analysts forecast that Public Service Enterprise Group Incorporated will post 2.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.25%. Public Service Enterprise Group’s payout ratio is presently 166.99%.

Several equities analysts have weighed in on PEG shares. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, September 20th. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Argus raised their price target on Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Morgan Stanley raised their price target on Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Public Service Enterprise Group currently has a consensus rating of “Buy” and an average price target of $50.42.

Large investors have recently bought and sold shares of the stock. IHT Wealth Management LLC grew its holdings in shares of Public Service Enterprise Group by 45.9% during the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after buying an additional 202 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of Public Service Enterprise Group by 209.4% during the third quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,539 shares in the last quarter. Hudock Capital Group LLC grew its holdings in shares of Public Service Enterprise Group by 38.8% during the second quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after buying an additional 735 shares in the last quarter. Vantage Investment Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 35.3% during the second quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after buying an additional 700 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 6.0% during the second quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock worth $125,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 66.77% of the company’s stock.

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Public Service Enterprise Group Company Profile

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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