Hilltop National Bank Has $1.20 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hilltop National Bank decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,217 shares of the utilities provider’s stock after selling 793 shares during the quarter. Hilltop National Bank’s holdings in Public Service Enterprise Group were worth $1,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Sound Shore Management Inc. CT acquired a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $71,298,000. FMR LLC lifted its holdings in shares of Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after buying an additional 732,443 shares during the period. Jennison Associates LLC grew its holdings in shares of Public Service Enterprise Group by 79.5% during the third quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock valued at $134,006,000 after buying an additional 665,105 shares in the last quarter. Finally, Raymond James & Associates raised its position in Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after buying an additional 663,012 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

PEG traded down $1.01 during midday trading on Friday, reaching $84.27. The company’s stock had a trading volume of 500,196 shares, compared to its average volume of 1,691,863. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The stock has a market cap of $41.99 billion, a P/E ratio of 20.71, a PEG ratio of 3.18 and a beta of 0.65. The company has a fifty day simple moving average of $87.50 and a 200 day simple moving average of $83.84. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced 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 business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.85%. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEG. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI lifted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.17.

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.