Texas Permanent School Fund Corp Reduces Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Texas Permanent School Fund Corp trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,128 shares of the utilities provider’s stock after selling 1,500 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Public Service Enterprise Group were worth $5,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of Public Service Enterprise Group by 14.2% in the 2nd quarter. IFP Advisors Inc now owns 1,418 shares of the utilities provider’s stock valued at $75,000 after purchasing an additional 176 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Public Service Enterprise Group by 0.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock worth $3,567,000 after acquiring an additional 177 shares in the last quarter. Peterson Financial Group Inc. raised its stake in Public Service Enterprise Group by 1.2% during the 2nd quarter. Peterson Financial Group Inc. now owns 15,053 shares of the utilities provider’s stock worth $942,000 after acquiring an additional 178 shares in the last quarter. Personal CFO Solutions LLC raised its stake in Public Service Enterprise Group by 2.1% during the 2nd quarter. Personal CFO Solutions LLC now owns 9,349 shares of the utilities provider’s stock worth $585,000 after acquiring an additional 193 shares in the last quarter. Finally, Adviser Investments LLC raised its stake in Public Service Enterprise Group by 4.7% during the 3rd quarter. Adviser Investments LLC now owns 4,390 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 198 shares in the last quarter. 72.28% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.4 %

Shares of NYSE:PEG opened at $58.42 on Monday. The company has a market cap of $29.11 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 3.22 and a beta of 0.57. The firm’s 50-day simple moving average is $60.42 and its 200-day simple moving average is $60.77. The company has a quick ratio of 0.45, a current ratio of 0.63 and a debt-to-equity ratio of 1.12. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $65.46.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Thursday, December 7th. Public Service Enterprise Group’s payout ratio is 40.64%.

Analyst Ratings Changes

PEG has been the topic of several research analyst reports. Barclays lifted their price target on shares of Public Service Enterprise Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. lifted their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, December 1st. TheStreet downgraded shares of Public Service Enterprise Group from a “b-” rating to a “c+” rating in a research report on Wednesday, January 24th. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 1st. Finally, StockNews.com downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Hold” and an average target price of $63.95.

Read Our Latest Research Report on PEG

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $63.01, for a total value of $86,575.74. Following the completion of the sale, the chief executive officer now owns 110,702 shares in the company, valued at $6,975,333.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 1,974 shares of company stock worth $123,226 over the last 90 days. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company Profile

(Free Report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through 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.

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

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