Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,612 shares of the utilities provider’s stock after selling 3,438 shares during the quarter. Glenmede Trust Co. NA’s holdings in Public Service Enterprise Group were worth $3,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Heritage Wealth Management Inc. acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $422,000. DRW Securities LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter valued at $8,244,000. QRG Capital Management Inc. raised its stake in shares of Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after buying an additional 15,505 shares during the last quarter. CWM LLC grew its stake in Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock valued at $1,532,000 after acquiring an additional 8,723 shares during the last quarter. Finally, Czech National Bank increased its holdings in Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after acquiring an additional 7,235 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $94.30 on Friday. The business has a 50-day moving average of $89.31 and a two-hundred day moving average of $81.39. The firm has a market capitalization of $46.98 billion, a PE ratio of 23.17, a P/E/G ratio of 3.46 and a beta of 0.61. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.55%. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Buying and Selling

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the company’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 value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 28,739 shares of company stock valued at $2,467,753. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PEG. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price target for the company. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America lifted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Morgan Stanley upped their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group 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.