Swedbank AB Has $37.92 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Swedbank AB decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 425,005 shares of the utilities provider’s stock after selling 214,511 shares during the period. Swedbank AB owned about 0.09% of Public Service Enterprise Group worth $37,915,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Family Firm Inc. acquired a new stake in Public Service Enterprise Group during the second quarter valued at $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the 2nd quarter worth $35,000. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group during the third quarter valued at about $48,000. Finally, Country Trust Bank acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $52,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America raised their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. UBS Group raised their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price target 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. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $93.01 on Tuesday. The company’s 50 day simple moving average is $88.54 and its 200 day simple moving average is $80.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $93.11. The stock has a market capitalization of $46.34 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 3.39 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.58%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Public Service Enterprise Group Company 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.