Swedbank AB Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Swedbank AB increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 451,264 shares of the utilities provider’s stock after purchasing an additional 26,259 shares during the quarter. Swedbank AB owned 0.09% of Public Service Enterprise Group worth $38,127,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the third quarter worth approximately $48,000. Legacy Investment Solutions LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $59,000. Fortitude Family Office LLC grew its position in shares of Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after acquiring an additional 611 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in shares of Public Service Enterprise Group by 30.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,107 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 257 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $83.82 on Friday. The business’s 50-day moving average is $87.32 and its 200 day moving average is $85.04. Public Service Enterprise Group Incorporated has a 12 month low of $57.24 and a 12 month high of $95.22. The company has a market capitalization of $41.76 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.82 and a beta of 0.65. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Analyst Upgrades and Downgrades

PEG has been the topic of several analyst reports. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Scotiabank increased their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday. Finally, BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.83.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock valued at $722,037. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company 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.