BI Asset Management Fondsmaeglerselskab A S Sells 13,464 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

BI Asset Management Fondsmaeglerselskab A S reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 42.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,453 shares of the utilities provider’s stock after selling 13,464 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Public Service Enterprise Group were worth $1,559,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $35,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $39,000. Nemes Rush Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $53,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $54,000. Finally, Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $56,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

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

Public Service Enterprise Group Stock Up 2.2 %

Shares of Public Service Enterprise Group stock opened at $81.99 on Wednesday. Public Service Enterprise Group Incorporated has a twelve month low of $65.36 and a twelve month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average is $81.78 and its 200 day moving average is $85.36. The company has a market cap of $40.88 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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 given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PEG shares. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their price objective 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. Bank of America cut their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, BMO Capital Markets lowered their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $89.35.

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.