Public Service Enterprise Group Inc. (PEG) Shares Sold by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can lowered its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 422,257 shares of the utilities provider’s stock after selling 28,503 shares during the period. Great West Life Assurance Co. Can’s holdings in Public Service Enterprise Group were worth $25,023,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. Norges Bank bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $179,057,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Public Service Enterprise Group by 5,062.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,859,627 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 2,804,229 shares during the period. Zimmer Partners LP grew its holdings in shares of Public Service Enterprise Group by 130.5% in the fourth quarter. Zimmer Partners LP now owns 2,251,689 shares of the utilities provider’s stock worth $117,200,000 after acquiring an additional 1,275,000 shares during the period. California Public Employees Retirement System grew its holdings in shares of Public Service Enterprise Group by 43.0% in the fourth quarter. California Public Employees Retirement System now owns 2,757,057 shares of the utilities provider’s stock worth $143,505,000 after acquiring an additional 829,305 shares during the period. Finally, Bank of Nova Scotia grew its holdings in shares of Public Service Enterprise Group by 287.4% in the fourth quarter. Bank of Nova Scotia now owns 792,368 shares of the utilities provider’s stock worth $41,239,000 after acquiring an additional 587,829 shares during the period. 67.53% of the stock is owned by institutional investors.

In other news, EVP Tamara Louise Linde sold 13,535 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.04, for a total value of $812,641.40. Following the transaction, the executive vice president now directly owns 49,909 shares in the company, valued at $2,996,536.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph Izzo sold 52,406 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $59.08, for a total value of $3,096,146.48. Following the completion of the transaction, the chief executive officer now owns 487,843 shares in the company, valued at $28,821,764.44. The disclosure for this sale can be found here. Insiders have sold 180,679 shares of company stock valued at $10,657,989 in the last three months. 0.51% of the stock is currently owned by corporate insiders.

Several analysts recently commented on PEG shares. Mizuho lifted their price objective on Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Wells Fargo & Co lifted their price objective on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $64.00 to $62.00 in a report on Tuesday, April 23rd. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Deutsche Bank lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective for the company. in a report on Thursday, February 28th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $59.73.

NYSE:PEG opened at $61.16 on Friday. Public Service Enterprise Group Inc. has a 52-week low of $49.22 and a 52-week high of $61.39. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52. The stock has a market cap of $30.91 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 3.08 and a beta of 0.40.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.08. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities research analysts predict that Public Service Enterprise Group Inc. will post 3.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.07%. The ex-dividend date is Thursday, June 6th. Public Service Enterprise Group’s dividend payout ratio is presently 60.26%.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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