Public Employees Retirement System of Ohio Sells 17,146 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Public Employees Retirement System of Ohio lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,563 shares of the utilities provider’s stock after selling 17,146 shares during the period. Public Employees Retirement System of Ohio’s holdings in Public Service Enterprise Group were worth $13,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Addison Advisors LLC bought a new position in Public Service Enterprise Group in the fourth quarter valued at $31,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $36,000. Salomon & Ludwin LLC grew its position in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 560 shares during the period. Scarborough Advisors LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $41,000. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of Public Service Enterprise Group by 39.0% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 695 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 195 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

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 Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG traded up $1.02 on Monday, hitting $77.03. The company had a trading volume of 2,398,203 shares, compared to its average volume of 2,815,153. The stock has a market capitalization of $38.37 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 3.00 and a beta of 0.59. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average of $74.31 and a two-hundred day moving average of $67.70. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $77.46.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. Public Service Enterprise Group’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Analysts Set New Price Targets

PEG has been the subject of a number of analyst reports. Evercore ISI lifted their price objective on shares of 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. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $69.00 to $74.00 and gave the stock a “market perform” rating in a report on Wednesday, July 3rd. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Monday, June 17th. Finally, Bank of America increased their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.17.

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.