Kentucky Retirement Systems Insurance Trust Fund Sells 3,413 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 14,501 shares of the utilities provider’s stock after selling 3,413 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Public Service Enterprise Group were worth $1,193,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $25,000. REAP Financial Group LLC grew its holdings in Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares during the period. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $39,000. Finally, Optiver Holding B.V. acquired a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of analyst reports. Evercore ISI decreased their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Barclays reduced their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. Finally, Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Hold” and a consensus price target of $89.54.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.44 on Tuesday. Public Service Enterprise Group Incorporated has a 12 month low of $72.82 and a 12 month high of $95.22. The firm has a fifty day simple moving average of $80.35 and a 200 day simple moving average of $82.42. The stock has a market capitalization of $41.64 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.94 and a beta of 0.48. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.31 earnings per share. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

Public Service Enterprise Group Company Profile

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.