Bryn Mawr Capital Management LLC Has $1.56 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bryn Mawr Capital Management LLC increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 44.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,527 shares of the utilities provider’s stock after acquiring an additional 7,837 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,561,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $1,185,000. Allspring Global Investments Holdings LLC boosted its position in Public Service Enterprise Group by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after purchasing an additional 17,838 shares during the period. Jennison Associates LLC boosted its position in Public Service Enterprise Group by 79.9% during the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock worth $54,757,000 after purchasing an additional 397,606 shares during the period. International Assets Investment Management LLC boosted its position in Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after purchasing an additional 169,425 shares during the period. Finally, PATRIZIA Pty Ltd bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $5,158,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock worth $511,814 over the last three months. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Scotiabank decreased their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price for the company. in a research report on Monday, January 22nd. Evercore ISI increased their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Barclays increased their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Stock Performance

PEG stock traded down $0.28 during midday trading on Friday, hitting $67.81. The stock had a trading volume of 2,973,057 shares, compared to its average volume of 2,842,513. The firm has a market capitalization of $33.81 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 2.94 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $68.39. The stock has a 50-day simple moving average of $64.64 and a 200 day simple moving average of $62.28. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. Public Service Enterprise Group’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.54%. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Public Service Enterprise Group 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.