Raymond James Trust N.A. Has $4.76 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Raymond James Trust N.A. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,187 shares of the utilities provider’s stock after selling 2,813 shares during the period. Raymond James Trust N.A.’s holdings in Public Service Enterprise Group were worth $4,758,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 43,654,799 shares of the utilities provider’s stock valued at $3,055,836,000 after purchasing an additional 1,159,331 shares in the last quarter. State Street Corp increased its holdings in Public Service Enterprise Group by 8.0% during the first quarter. State Street Corp now owns 30,643,671 shares of the utilities provider’s stock valued at $2,145,057,000 after buying an additional 2,264,629 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Public Service Enterprise Group by 13.8% in the first quarter. Capital Research Global Investors now owns 26,008,799 shares of the utilities provider’s stock worth $1,820,616,000 after purchasing an additional 3,144,006 shares during the period. Northern Trust Corp boosted its position in shares of Public Service Enterprise Group by 1.2% in the first quarter. Northern Trust Corp now owns 6,032,006 shares of the utilities provider’s stock worth $422,240,000 after purchasing an additional 72,773 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Public Service Enterprise Group by 4.7% during the fourth quarter. Invesco Ltd. now owns 4,833,329 shares of the utilities provider’s stock worth $322,529,000 after acquiring an additional 218,068 shares during the last quarter. 71.01% of the stock is owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph Izzo sold 9,883 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $64.15, for a total value of $633,994.45. Following the completion of the transaction, the chief executive officer now owns 447,656 shares of the company’s stock, valued at approximately $28,717,132.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Ralph A. Larossa sold 1,054 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $65.76, for a total transaction of $69,311.04. Following the sale, the chief operating officer now owns 61,259 shares of the company’s stock, valued at approximately $4,028,391.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $64.15, for a total value of $633,994.45. Following the completion of the transaction, the chief executive officer now owns 447,656 shares of the company’s stock, valued at approximately $28,717,132.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,274 shares of company stock worth $1,446,725. 0.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $65.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 3rd. TheStreet lowered shares of Public Service Enterprise Group from a “b” rating to a “c” rating in a research report on Monday, June 13th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays lowered their target price on shares of Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $75.00 to $81.00 and gave the company an “overweight” rating in a research report on Thursday, August 18th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $69.64.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $63.97 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.68 and a current ratio of 0.78. Public Service Enterprise Group Incorporated has a 12-month low of $58.19 and a 12-month high of $75.61. The business has a 50 day simple moving average of $65.36 and a 200 day simple moving average of $66.60.

Public Service Enterprise Group (NYSE:PEGGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $1.78 billion. Public Service Enterprise Group had a positive return on equity of 13.25% and a negative net margin of 10.59%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.48 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $2.16 annualized dividend and a dividend yield of 3.38%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently -110.20%.

About Public Service Enterprise Group

(Get Rating)

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 PSEG 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.

Featured Stories

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating).

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.