Zurich Insurance Group Ltd FI Has $20.95 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Zurich Insurance Group Ltd FI decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 75.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,947 shares of the utilities provider’s stock after selling 744,672 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Public Service Enterprise Group were worth $20,949,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vident Advisory LLC grew its stake in shares of Public Service Enterprise Group by 13.0% in the 4th quarter. Vident Advisory LLC now owns 13,290 shares of the utilities provider’s stock valued at $1,123,000 after buying an additional 1,533 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $600,000. Stonebrook Private Inc. grew its stake in shares of Public Service Enterprise Group by 17.0% in the 4th quarter. Stonebrook Private Inc. now owns 15,337 shares of the utilities provider’s stock valued at $1,296,000 after buying an additional 2,227 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Public Service Enterprise Group by 25.5% in the 4th quarter. Toronto Dominion Bank now owns 276,773 shares of the utilities provider’s stock valued at $23,384,000 after buying an additional 56,273 shares in the last quarter. Finally, Sagefield Capital LP grew its stake in shares of Public Service Enterprise Group by 63.9% in the 4th quarter. Sagefield Capital LP now owns 56,878 shares of the utilities provider’s stock valued at $4,806,000 after buying an additional 22,180 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.5%

Shares of PEG stock opened at $79.36 on Wednesday. Public Service Enterprise Group Incorporated has a 12 month low of $71.89 and a 12 month high of $95.22. The firm has a market cap of $39.60 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The stock has a 50 day moving average of $80.87 and a 200-day moving average of $83.99. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.18%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 68.85%.

Analysts Set New Price Targets

Several brokerages recently commented on PEG. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Evercore ISI lowered their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Bank of America decreased their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Guggenheim decreased their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Finally, Barclays decreased their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $88.81.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.