Sentry Investment Management LLC Sells 481 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Sentry Investment Management LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,349 shares of the utilities provider’s stock after selling 481 shares during the quarter. Sentry Investment Management LLC’s holdings in Public Service Enterprise Group were worth $173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. Norges Bank bought a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $215,074,000. Raymond James & Associates lifted its position in shares of Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after buying an additional 1,674,827 shares during the period. Reaves W H & Co. Inc. lifted its position in shares of Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after buying an additional 667,773 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock worth $59,023,000 after buying an additional 634,587 shares during the period. Finally, Cohen & Steers Inc. lifted its position in shares of Public Service Enterprise Group by 23.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after buying an additional 455,693 shares during the period. 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 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 transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,068 shares of company stock worth $2,406,965. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Barclays raised their price target on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a report on Monday, June 17th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Mizuho lifted their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $77.33.

Public Service Enterprise Group Stock Up 1.4 %

Shares of Public Service Enterprise Group stock opened at $83.31 on Friday. 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 Incorporated has a 12 month low of $53.71 and a 12 month high of $83.45. The business has a fifty day simple moving average of $78.61 and a 200 day simple moving average of $72.60. The stock has a market cap of $41.50 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.91 and a beta of 0.60.

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

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.88%. Public Service Enterprise Group’s dividend payout ratio is presently 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.