Arizona State Retirement System Has $12.11 Million Position in Public Service Enterprise Group Inc. (NYSE:PEG)

Arizona State Retirement System increased its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 205,081 shares of the utilities provider’s stock after acquiring an additional 15,858 shares during the period. Arizona State Retirement System’s holdings in Public Service Enterprise Group were worth $12,110,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Chicago Partners Investment Group LLC boosted its position in shares of Public Service Enterprise Group by 3.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,457 shares of the utilities provider’s stock valued at $322,000 after acquiring an additional 181 shares in the last quarter. Smithfield Trust Co. boosted its position in shares of Public Service Enterprise Group by 3.2% during the 3rd quarter. Smithfield Trust Co. now owns 6,393 shares of the utilities provider’s stock valued at $397,000 after acquiring an additional 200 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Public Service Enterprise Group by 0.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 42,065 shares of the utilities provider’s stock valued at $2,474,000 after acquiring an additional 206 shares in the last quarter. FormulaFolio Investments LLC boosted its position in Public Service Enterprise Group by 6.2% in the fourth quarter. FormulaFolio Investments LLC now owns 3,579 shares of the utilities provider’s stock valued at $211,000 after buying an additional 209 shares in the last quarter. Finally, Hallmark Capital Management Inc. boosted its position in Public Service Enterprise Group by 0.4% in the third quarter. Hallmark Capital Management Inc. now owns 52,165 shares of the utilities provider’s stock valued at $3,238,000 after buying an additional 230 shares in the last quarter. Institutional investors and hedge funds own 69.37% of the company’s stock.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $58.55, for a total value of $96,607.50. Following the completion of the transaction, the chief operating officer now directly owns 76,069 shares of the company’s stock, valued at $4,453,839.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Cregg sold 625 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $58.59, for a total transaction of $36,618.75. Following the completion of the transaction, the chief financial officer now directly owns 54,648 shares of the company’s stock, valued at $3,201,826.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,975 shares of company stock valued at $358,011. Insiders own 0.51% of the company’s stock.

PEG has been the topic of a number of recent analyst reports. Wolfe Research lowered shares of Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating and set a $64.00 price target on the stock. in a research report on Thursday, November 14th. Royal Bank of Canada restated a “hold” rating and issued a $65.00 price target on shares of Public Service Enterprise Group in a research report on Sunday, January 19th. Mizuho boosted their price target on shares of Public Service Enterprise Group from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $64.16.

NYSE:PEG opened at $60.42 on Tuesday. The firm has a market cap of $31.18 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 4.50 and a beta of 0.24. Public Service Enterprise Group Inc. has a 12 month low of $52.08 and a 12 month high of $63.88. The company has a quick ratio of 0.52, a current ratio of 0.75 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $58.96 and its two-hundred day moving average price is $60.06.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.55 billion. Public Service Enterprise Group had a net margin of 14.45% and a return on equity of 11.01%. During the same period in the previous year, the business earned $0.95 earnings per share. On average, research analysts expect that Public Service Enterprise Group Inc. will post 3.26 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Monday, December 9th. Public Service Enterprise Group’s dividend payout ratio is presently 60.26%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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