V Square Quantitative Management LLC Buys 2,043 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

V Square Quantitative Management LLC grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 51.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,988 shares of the utilities provider’s stock after acquiring an additional 2,043 shares during the period. V Square Quantitative Management LLC’s holdings in Public Service Enterprise Group were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Operose Advisors LLC raised its position in Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 435 shares during the last quarter. Addison Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $31,000. CNB Bank acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at $34,000. Bruce G. Allen Investments LLC bought a new position in Public Service Enterprise Group in the fourth quarter valued at about $36,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the first quarter worth about $36,000. 73.34% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold a total of 9,322 shares of company stock worth $607,376 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Up 1.1 %

Shares of PEG traded up $0.83 on Tuesday, hitting $75.14. The company’s stock had a trading volume of 1,640,277 shares, compared to its average volume of 2,846,974. The firm’s fifty day moving average price is $68.04 and its 200-day moving average price is $63.70. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $75.17. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $37.43 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 3.26 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the company earned $1.39 EPS. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Analyst Ratings Changes

PEG has been the topic of several recent research reports. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research note on Monday, January 22nd. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Evercore ISI upped their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Check Out Our Latest Stock Report on PEG

About Public Service Enterprise Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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