First Commonwealth Financial Corp PA Has $842,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Commonwealth Financial Corp PA lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,444 shares of the utilities provider’s stock after buying an additional 123 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Public Service Enterprise Group were worth $842,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter worth about $35,000. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the 2nd quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth about $48,000. Finally, Country Trust Bank bought a new position in shares of Public Service Enterprise Group in the second quarter worth about $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,739 shares of company stock valued at $2,467,753 in the last three months. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.4 %

Shares of PEG stock traded up $0.39 during trading hours on Wednesday, reaching $94.90. The company had a trading volume of 66,870 shares, compared to its average volume of 2,762,975. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The company has a 50 day moving average of $88.74 and a 200 day moving average of $81.01. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market cap of $47.28 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 3.41 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.53%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PEG shares. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $86.69.

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.