United Services Automobile Association Sells 838 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

United Services Automobile Association cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,144 shares of the utilities provider’s stock after selling 838 shares during the quarter. United Services Automobile Association’s holdings in Public Service Enterprise Group were worth $994,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. FMR LLC raised 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 during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Public Service Enterprise Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock valued at $263,315,000 after buying an additional 19,650 shares during the last quarter. Raymond James & Associates lifted its position in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after buying an additional 663,012 shares in the last quarter. Hamlin Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 7.2% during the 3rd quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock worth $216,543,000 after buying an additional 162,731 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PEG. Barclays dropped their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Scotiabank upped their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $88.08.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,361 shares of company stock valued at $2,356,562. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $90.00 on Friday. The business’s 50 day moving average is $89.65 and its 200-day moving average is $81.98. The firm has a market cap of $44.84 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 3.37 and a beta of 0.62. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. 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 posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 EPS. Equities research analysts predict 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. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. Public Service Enterprise Group’s payout ratio is presently 58.97%.

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.