Trust Co. of Toledo NA OH Acquires Shares of 2,574 Public Service Enterprise Group Incorporated (NYSE:PEG)

Trust Co. of Toledo NA OH bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,574 shares of the utilities provider’s stock, valued at approximately $230,000.

A number of other hedge funds also recently modified their holdings of the stock. Stifel Financial Corp increased its holdings in Public Service Enterprise Group by 1.4% in the 4th quarter. Stifel Financial Corp now owns 149,711 shares of the utilities provider’s stock valued at $9,155,000 after buying an additional 2,055 shares during the period. KBC Group NV boosted its position in shares of Public Service Enterprise Group by 13.7% during the 4th quarter. KBC Group NV now owns 37,433 shares of the utilities provider’s stock worth $2,289,000 after acquiring an additional 4,501 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Public Service Enterprise Group by 161.8% in the fourth quarter. Jones Financial Companies Lllp now owns 987 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 610 shares during the last quarter. NEOS Investment Management LLC raised its position in Public Service Enterprise Group by 35.6% during the fourth quarter. NEOS Investment Management LLC now owns 7,063 shares of the utilities provider’s stock valued at $432,000 after purchasing an additional 1,855 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in Public Service Enterprise Group by 9.3% during the fourth quarter. Rafferty Asset Management LLC now owns 55,599 shares of the utilities provider’s stock worth $3,400,000 after purchasing an additional 4,728 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the business’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 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 is accessible through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on 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 owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the firm’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 transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,446 shares of company stock valued at $2,531,260. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 0.6 %

Shares of NYSE PEG opened at $91.60 on Friday. The company’s fifty day simple moving average is $82.26 and its 200 day simple moving average is $75.09. Public Service Enterprise Group Incorporated has a 12-month low of $54.80 and a 12-month high of $92.20. The firm has a market cap of $45.63 billion, a PE ratio of 25.37, a P/E/G ratio of 3.22 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.

Public Service Enterprise Group (NYSE:PEG) last issued its 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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Analyst Ratings Changes

PEG has been the topic of several recent analyst reports. Scotiabank lifted their price target on 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. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada increased their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.46.

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.