Brown Advisory Inc. Buys 2,242 Shares of Public Service Enterprise Group Inc. (PEG)

Brown Advisory Inc. raised its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 81,967 shares of the utilities provider’s stock after buying an additional 2,242 shares during the period. Brown Advisory Inc.’s holdings in Public Service Enterprise Group were worth $4,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Rockland Trust Co. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $31,000. Athena Capital Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $33,000. Csenge Advisory Group purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $44,000. JNBA Financial Advisors purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $45,000. Finally, Essex Savings Bank purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 68.54% of the company’s stock.

In related news, Chairman Ralph Izzo sold 52,406 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $50.87, for a total value of $2,665,893.22. Following the transaction, the chairman now directly owns 462,726 shares in the company, valued at $23,538,871.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stuart J. Black sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $59.07, for a total value of $354,420.00. Following the completion of the transaction, the vice president now owns 24,981 shares in the company, valued at $1,475,627.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,219 shares of company stock worth $8,962,684. Insiders own 0.58% of the company’s stock.

Several brokerages recently weighed in on PEG. Deutsche Bank lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price target for the company. in a research note on Thursday, February 28th. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Mizuho boosted their price objective on Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research note on Wednesday. Wolfe Research upgraded Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 22nd. Finally, Wells Fargo & Co boosted their price objective on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $59.10.

Shares of Public Service Enterprise Group stock opened at $59.73 on Friday. The company has a market cap of $30.12 billion, a PE ratio of 19.14, a P/E/G ratio of 2.74 and a beta of 0.41. Public Service Enterprise Group Inc. has a 1-year low of $47.84 and a 1-year high of $59.95. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.53 and a current ratio of 0.71.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Wednesday, February 27th. The utilities provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.01. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 14.83%. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, analysts expect that Public Service Enterprise Group Inc. will post 3.25 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be issued a dividend of $0.47 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Thursday, March 7th. Public Service Enterprise Group’s payout ratio is currently 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; and 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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