Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,406 shares of the utilities provider’s stock after buying an additional 4,020 shares during the period. Itau Unibanco Holding S.A.’s holdings in Public Service Enterprise Group were worth $2,266,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Finally, Country Trust Bank bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $52,000. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PEG. Barclays dropped their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.08.

Public Service Enterprise Group Trading Down 2.1 %

NYSE PEG opened at $92.30 on Tuesday. The company has a market cap of $45.99 billion, a P/E ratio of 22.68, a P/E/G ratio of 3.46 and a beta of 0.62. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. The company has a 50-day moving average of $89.31 and a 200-day moving average of $81.44. 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 (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.70% and a net margin of 19.48%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be paid a $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.60%. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Insider Buying and Selling

In related 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 transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,361 shares of company stock valued at $2,356,562 over the last 90 days. 0.18% of the stock is owned by corporate insiders.

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.