Zurcher Kantonalbank Zurich Cantonalbank Purchases 38,921 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 241,791 shares of the utilities provider’s stock after acquiring an additional 38,921 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Public Service Enterprise Group were worth $19,899,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PEG. Schroder Investment Management Group lifted its position in 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 worth $178,900,000 after buying an additional 1,483,662 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Public Service Enterprise Group by 476.9% in the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider’s stock worth $75,652,000 after buying an additional 759,873 shares during the last quarter. Russell Investments Group Ltd. lifted its position in 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 worth $89,967,000 after buying an additional 640,949 shares during the last quarter. Invesco Ltd. lifted its position in Public Service Enterprise Group by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider’s stock worth $551,323,000 after buying an additional 604,978 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Public Service Enterprise Group by 8,465.1% in the first quarter. GAMMA Investing LLC now owns 586,881 shares of the utilities provider’s stock worth $48,300,000 after buying an additional 580,029 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Stock Performance

PEG stock opened at $87.02 on Tuesday. The firm has a market cap of $43.42 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 3.14 and a beta of 0.48. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The business’s fifty day simple moving average is $81.93 and its two-hundred day simple moving average is $82.10.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.90%. Public Service Enterprise Group’s payout ratio is currently 68.85%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PEG shares. Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $83.00 to $84.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Sunday, July 20th. Barclays reduced their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Finally, Guggenheim reduced their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.50.

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.