Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Bokf Na

Bokf Na lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,182 shares of the utilities provider’s stock after selling 6,275 shares during the quarter. Bokf Na’s holdings in Public Service Enterprise Group were worth $10,258,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at about $36,000. Salomon & Ludwin LLC increased its stake in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $41,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The disclosure for this sale can be found here. Insiders sold 30,068 shares of company stock worth $2,406,965 in the last three months. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of analyst reports. Scotiabank upped their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Bank of America increased their target price 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. Royal Bank of Canada raised their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Barclays raised their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Mizuho raised their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.33.

Public Service Enterprise Group Price Performance

PEG opened at $82.20 on Thursday. The company has a market capitalization of $40.94 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.91 and a beta of 0.60. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average price of $78.42 and a 200-day moving average price of $72.52. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $82.34.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. Public Service Enterprise Group’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.60 dividend. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.92%. Public Service Enterprise Group’s payout ratio is 66.48%.

About Public Service Enterprise Group

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.