Avanza Fonder AB Has $3.98 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Avanza Fonder AB decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,536 shares of the utilities provider’s stock after selling 8,519 shares during the period. Avanza Fonder AB’s holdings in Public Service Enterprise Group were worth $3,983,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PEG. Norges Bank acquired a new position in Public Service Enterprise Group during the fourth quarter worth $445,005,000. Raymond James Financial Inc. purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $376,209,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock valued at $169,404,000 after purchasing an additional 1,719,614 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Public Service Enterprise Group by 234.1% in the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock valued at $178,900,000 after purchasing an additional 1,483,662 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Public Service Enterprise Group by 151.2% in the fourth quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider’s stock valued at $89,967,000 after purchasing an additional 640,949 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $79.43 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market capitalization of $39.63 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52-week low of $71.89 and a 52-week high of $95.22. The company has a 50-day simple moving average of $80.07 and a 200 day simple moving average of $83.18.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business earned $1.31 earnings per share. On average, research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. Public Service Enterprise Group’s dividend payout ratio is presently 68.85%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore ISI lowered their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday, May 22nd. Guggenheim lowered their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 target price for the company. in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Hold” and an average price target of $89.63.

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.