Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Community Bank N.A.

Community Bank N.A. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 67,654 shares of the utilities provider’s stock after selling 2,745 shares during the period. Community Bank N.A.’s holdings in Public Service Enterprise Group were worth $6,035,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Old Port Advisors boosted its holdings in Public Service Enterprise Group by 0.5% in the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after purchasing an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC lifted its position in shares of Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after buying an additional 115 shares during the last quarter. First Commonwealth Financial Corp PA boosted its stake in shares of Public Service Enterprise Group by 1.3% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after acquiring an additional 123 shares in the last quarter. Cigna Investments Inc. New raised its stake in shares of Public Service Enterprise Group by 2.5% in the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 124 shares in the last quarter. Finally, Great Lakes Retirement Inc. lifted its holdings in Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $94.30 on Monday. The firm has a market capitalization of $46.98 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 3.46 and a beta of 0.61. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The firm has a 50-day moving average price of $89.31 and a 200 day moving average price of $81.44.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $0.85 EPS. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.55%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PEG shares. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Scotiabank lifted their price target on 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. Morgan Stanley increased their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.08.

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.