OLD Second National Bank of Aurora Trims Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

OLD Second National Bank of Aurora trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,444 shares of the utilities provider’s stock after selling 1,262 shares during the period. OLD Second National Bank of Aurora’s holdings in Public Service Enterprise Group were worth $1,984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after purchasing an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after acquiring an additional 726,613 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 10,253,655 shares of the utilities provider’s stock worth $638,876,000 after acquiring an additional 221,305 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Public Service Enterprise Group by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after acquiring an additional 87,974 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Public Service Enterprise Group by 2.8% during the 3rd quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock worth $350,395,000 after acquiring an additional 170,586 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’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 sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,948 shares of company stock valued at $510,300. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 0.2 %

PEG stock traded up $0.16 during trading on Thursday, reaching $65.19. The company had a trading volume of 287,114 shares, compared to its average volume of 2,822,035. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $67.51. The company has a market cap of $32.50 billion, a P/E ratio of 12.68, a PEG ratio of 2.81 and a beta of 0.58. The business has a 50 day moving average of $63.55 and a 200 day moving average of $61.82. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Public Service Enterprise Group’s revenue was down 17.0% on a year-over-year basis. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 46.78%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEG. Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Barclays upped their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Finally, Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.58.

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.